Perhaps one of the only currency in the world to upstage the US dollar, as the Ghanian Cedi's reflected a 42% rise against US dollar, with a growing economy backed by many in the diaspora returning to the Motherland.
Central bank denies reserve-fuelled support for cedi. Ghana's cedi currency has jumped more than 40% versus the U.S. dollar this year, far outperforming its African and emerging market peers, shrinking the cost of the country's foreign debt and giving it more fiscal breathing room.
The rally, which has surprised some investors, is another much-needed boost for the West African nation as it claws its way back from debt default and a punishing economic crisis.
Central bank denies reserve-fuelled support for cedi. Ghana's cedi currency has jumped more than 40% versus the U.S. dollar this year, far outperforming its African and emerging market peers, shrinking the cost of the country's foreign debt and giving it more fiscal breathing room.
The rally, which has surprised some investors, is another much-needed boost for the West African nation as it claws its way back from debt default and a punishing economic crisis.
