"The Bank of Ghana is working collaboratively with the mining firms, international oil companies, and their bankers to purchase all foreign exchange arising from the voluntary repatriation of their export proceeds to boost the supply of foreign exchange to the economy," added the statement. The central bank announced additional measures to complement the policy rate hike, including an increase in the primary reserve requirement of banks from 12 percent to 15 percent to be implemented in a phased manner from September to November. Revenue has not kept pace with projections and created financing challenges," said the central bank in the statement, stressing it had been aiding the government with overdrafts to bridge the financing gap.Īmid the ongoing global challenges, Ghana's specific situation worsened due to the downgrading of its sovereign credit rating by international rating agencies, nonresidents' disinvestment in local currency bonds, and loss of reserve buffers, the statement said. "The execution of the budget for the year has remained challenging. Similarly, it said the continued depreciation of the local currency against the major traded currencies, reflected among others, a continued heightening of uncertainties in the global economy and elevated demand pressure in the foreign exchange market. The statement said that the further acceleration of inflation for the eleventh consecutive month to 31.7 percent in July 2022, driven mainly by both food and non-food price increases, was a signal of inflationary pressure on the horizon.
The adjustment came after a cumulative 550 bps hike since last November. The Bank of Ghana announced this in a statement to the press after an emergency Monetary Policy Committee meeting held earlier in the day. 18 (Xinhua) - Ghana's central bank announced an increase of 300 basis points (bps) in its benchmark policy rate to 22 percent late Wednesday to combat the ever-surging inflation and continued depreciation of the local currency. Print the charts and take them with you in your purse or wallet while you are traveling.ACCRA, Aug.
The USD conversion factor has 6 significant digits. The GHS conversion factor has 4 significant digits. The exchange rate for the United States Dollar was last updated on Septemfrom The International Monetary Fund. The exchange rate for the Ghanaian Cedi was last updated on Septemfrom Yahoo Finance. The United States Dollar is divided into 100 cents. The Ghanaian Cedi is divided into 100 pesewas. Below, you'll find Ghanaian Cedi rates and a currency converter.
#Ghana currency rates code
The currency code for Cedis is GHS, and the currency symbol is GH. Our currency rankings show that the most popular Ghanaian Cedi exchange rate is the GHS to USD rate. The United States Dollar is also known as the American Dollar, and the US Dollar. The Ghanaian Cedi is the currency of Ghana. The United States Dollar is the currency in American Samoa (AS, ASM), British Virgin Islands (VG, VGB, BVI), El Salvador (SV, SLV), Guam (GU, GUM), Marshall Islands (MH, MHL), Micronesia (Federated States of Micronesia, FM, FSM), Northern Mariana Islands (MP, MNP), Palau (PW, PLW), Puerto Rico (PR, PRI), United States (United States of America, US, USA), Turks and Caicos Islands (TC, TCA), Virgin Islands (VI, VIR), Timor-Leste, Ecuador (EC, ECU), Johnston Island, Midway Islands, and Wake Island. The Ghanaian Cedi is the currency in Ghana (GH, GHA).
0 kommentar(er)
