Podium ReportersPodium Reporters
  • Home
  • News
  • Economy
    • Global
    • Nigerian
  • Education
  • Politics
    • Asia
    • Africa
    • Europe
    • Finance
    • Nigeria
    • US & Canada
    • World
  • Science
    • Health
  • Lifestyle
    • Entertainment
      • Comedy
      • Ent & Arts
      • Film & Drama
      • Music
      • videos
    • Homes
    • Luxury
    • Media & Culture
  • Sports
  • Others
    • About us
    • Get In Touch
Facebook X (Twitter) Instagram
Trending
  • Nigeria at COP28: Separating the Facts from Fiction
  • COP28: Revisiting President Tinubu’s Church Rat Analogy
  • Siemens Power Deal: Nigeria and Germany sign new agreement to fast-track delivery
  • A budget prioritising Nigerians, by Fredrick Nwabufo
  • Nigeria’s 2024 Budget: A Quick Look
  • Anambra 2025: Soludo headache multiplies as Anambra APC formally welcomes Sen. Ifeanyi Ubah and Uche Ekwunife
  • BREAKING: Supreme Court extends validity of old Naira notes indefinitely
  • President Tinubu to attend UN Climate Change Conference (COP28) in Dubai
Facebook X (Twitter) Instagram
Monday, December 4
Podium ReportersPodium Reporters
Demo
  • Home
  • News
  • Economy
    • Global
    • Nigerian
  • Education
  • Politics
    1. Asia
    2. Africa
    3. Europe
    4. Finance
    5. Nigeria
    6. US & Canada
    7. World
    8. View All

    Aregbesola Champions Easier Path to Naturalisation, Announces Brown Card For Permanent Residency 

    28 May 2023

    Nigeria and Germany: Partners in Renewable Energy

    22 November 2023

    Diaspora Investment Summit 2023: Over 2000 Investors Rally for Nigeria’s Economic Future

    3 November 2023

    Opinion: Why Nigeria’s Bilateral Relations Matter and How President Tinubu is Improving Them.

    30 October 2023

    Opinion: The Billion-Dollar Vision for Nigeria’s Food Security and Prosperity

    28 October 2023

    Breaking: Queen Elizabeth II is dead

    8 September 2022

    Tinubu approves CBN’s plan to address forex market volatility

    14 August 2023

    Naira redesign to have positive impact on the economy – Experts

    27 October 2022

    FG will stop paying petrol subsidy June 2023 – Minister

    22 August 2022

    Nigeria at COP28: Separating the Facts from Fiction

    3 December 2023

    Column: Nigeria’s Journey to Global Market Prominence

    19 November 2023

    Gov. Lawal Dauda is Fighting me Because I Rejected his attempt to Scam my Government – Matawalle

    8 November 2023

    Securing Nigeria pluck by pluck

    7 November 2023

    Ogun Amotekun arrest man with bloodstained pants

    13 October 2022

    COP28: Revisiting President Tinubu’s Church Rat Analogy

    2 December 2023

    Nigeria and Germany: Partners in Renewable Energy

    22 November 2023

    Tinubu’s Diplomatic Victory: Strengthening Nigeria’s Economic Relations with Saudi Arabia for Shared Prosperity

    13 November 2023

    Opinion: Why Nigeria’s Bilateral Relations Matter and How President Tinubu is Improving Them.

    30 October 2023

    Nigeria at COP28: Separating the Facts from Fiction

    3 December 2023

    COP28: Revisiting President Tinubu’s Church Rat Analogy

    2 December 2023

    Anambra 2025: Soludo headache multiplies as Anambra APC formally welcomes Sen. Ifeanyi Ubah and Uche Ekwunife

    29 November 2023

    Court of Appeal Sacks 16 Plateau PDP Lawmakers, APC now majority

    27 November 2023
  • Science
    1. Health
    2. View All

    The Burden of Quack Practitioners and Gross Misconduct in Nigerian Hospitals

    6 November 2023

    Kogi Reference Hospital: Yahaya Bello’s Pure Genius

    28 April 2022

    Kwara hosts 22 APC States’ meeting on improving healthcare access

    26 August 2021

    Distinction: Sanwo-Olu Gets A+ Rating In Covid-19, Security, Infrastructure – Report

    10 August 2021

    Opinion: A New Era of Defence Industrialization in Nigeria

    25 November 2023

    The Burden of Quack Practitioners and Gross Misconduct in Nigerian Hospitals

    6 November 2023

    Opinion Column: How President Tinubu is Leading Nigeria’s Digital Transformation

    5 November 2023

    Presidential Yacht is an operational naval boat with special security features – Bayo Onanuga

    2 November 2023
  • Lifestyle
    1. Entertainment
    2. Comedy
    3. Ent & Arts
    4. Film & Drama
    5. Music
    6. videos
    7. Homes
    8. Luxury
    9. Media & Culture
    10. View All

    God ordained Tinubu to be President of Nigeria – Oba of Benin

    27 November 2023

    UAE Visa ban on Nigerians lifted after President Tinubu’s intervention

    11 September 2023

    Understanding the Emotional Tapestry: A Path to a Prosperous Nigeria Under President Tinubu by Gbenga Olorunpomi.

    7 September 2023

    Artificial Intelligence in deepening your Business branding: Tomorrow’s Business is now

    14 August 2023

    God ordained Tinubu to be President of Nigeria – Oba of Benin

    27 November 2023

    Photos: Banky W, Adesua finally reveal son

    17 September 2022

    Renewed Hope Concert puts Nigeria in celebratory mood as excited youths look forward to Tinubu’s swearing-in

    26 May 2023

    SSANU, NASU call off strike after meeting with FG

    20 August 2022

    Sanwo-Olu Inspects 1,188-unit Sangotedo Housing Project, Sets Deadlines for Commissioning

    17 September 2021

    Did you know? – Perfumery edition

    10 August 2022

    Do You Know Who Wore the First Lipstick?

    10 August 2022

    God ordained Tinubu to be President of Nigeria – Oba of Benin

    27 November 2023

    ‘Nothing can shake Tinubu’s presidency’, Youths in high hopes after thrilling ‘Renewed Hope’ concert

    26 May 2023

    Nigerian chef, Hilda Baci breaks Guinness World Record for ‘longest cooking time’

    15 May 2023

    ‘Gangs of Lagos’, mockery, misrepresentation of our heritage — Lagos govt fumes 

    13 April 2023

    God ordained Tinubu to be President of Nigeria – Oba of Benin

    27 November 2023

    Exposed: Real Reasons Some Senators Are Plotting Akpabio’s Ouster.

    18 September 2023

    UAE Visa ban on Nigerians lifted after President Tinubu’s intervention

    11 September 2023

    Understanding the Emotional Tapestry: A Path to a Prosperous Nigeria Under President Tinubu by Gbenga Olorunpomi.

    7 September 2023
  • Sports
  • Others
    • About us
    • Get In Touch
Podium ReportersPodium Reporters
Home » News » Ghana Cedi confirmed world’s worst-performing currency as country battles worsening economic crisis
Economy

Ghana Cedi confirmed world’s worst-performing currency as country battles worsening economic crisis

By Albus Dauda18 August 2022No Comments50 Views2 Mins Read
Facebook Twitter LinkedIn WhatsApp Reddit Email
Share
Facebook Twitter LinkedIn Email Reddit WhatsApp

An emerging report from Bloomberg has declared the Ghanaian currency, the Cedi, as the worst performing currency in the world.

Bloomberg reveals that a recent decline has compounded the woes of the constantly depreciating currency, having depreciated by GHC2 in the last week.

The report comes after Bloomberg tracked 150 countries’ currencies. The study placed Ghana Cedi even behind Sri Lanka’s currency, effectively qualifying the Cedi as the worst currency in the world.

“The Cedi fell 1.6% on Tuesday, August 16, extending this year’s slump to 35% and making it the world’s worst performer among 150 currencies tracked, after bankrupt Sri Lanka’s rupee,” Bloomberg revealed.

Despite the redenomination of the currency that left it exchanging for 1 Dollar for 6.02 Cedi at the beginning of the year, the currency has been under intense exchange pressure and has further slumped.

A few weeks ago, the currency exchanged 1 Dollar to 7.3 Cedis, and then in a few days, it fell 1 Dollar to 9.37 Cedis.

With the currency losing over 3 units of its value in a few months, Ghana’s economy continues to struggle for survival as inflation rages on. Report from Fitch and S&P has the same statement of continued fall for the Cedi.

Amid these negative economic developments, Ghana’s Central Bank is holding an emergency Monetary Policy Committee (MPC) meeting today. The BoG is expected to “review recent developments in the economy” during the meeting.

Ghana’s worsening economic crisis is part of a global economic downturn caused by unprecedented disruptions and an energy crisis raising cost of living and inflationary pressure to troubling levels in countries across the world.

 

Cedi Ghana Inflation
Share. Facebook Twitter Pinterest LinkedIn Telegram Email WhatsApp

Related Posts

020 Views

Nigeria at COP28: Separating the Facts from Fiction

3 December 20236 Mins Read
0146 Views

COP28: Revisiting President Tinubu’s Church Rat Analogy

2 December 20235 Mins Read
024 Views

Siemens Power Deal: Nigeria and Germany sign new agreement to fast-track delivery

1 December 20232 Mins Read
Add A Comment

Leave A Reply Cancel Reply

© 2023 The Podium Reporters. Designed by Marvelworx Limited.
  • Home
  • Economy
  • Education
  • Lifestyle
  • Politics
  • Science
  • Sports

Type above and press Enter to search. Press Esc to cancel.