Dollar to sell at 4 cedis by December 2016
Comparing the trend from previous election years to this year, the report added that it is estimated that the cedi will depreciate marginally by some 0.65% to the US dollar, but appreciate by some 2.20% and 0.64% to the sterling and euro respectively by year-end.
This is according to an Accra-published report by GN Research.
Comparing the trend from previous election years to this year the report added that it is estimated that the cedi will depreciate marginally by some 0.65% to the US dollar, but appreciate by some 2.20% and 0.64% to the sterling and euro respectively by year-end.
Currently the dollar is being sold at GHC 3.9p per a dollar, whiles the euro and pound are being sold at GHC 4.3p and GHC 4.8p respectively.
The estimated depreciation of the cedi means that commodities and services will be more expensive during the election year.
The report further stated that the cedi did not depreciate against major trading currencies in the third quarter of 2016.
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