The Ghana cedi has been classified as one of the worst among 15 top-performing currencies in Africa.
The local currency has depreciated by 4.70% to the US dollar, making it the continents second worst-preforming currency.
The depreciation has been attributed to upside risks to the economy including high debt and interest payments, inadequate revenue, and rising expenditure.
The cedi is currently trading at GH¢6.60 to one US dollar on the forex market.
The Cedi placed 14th on the league of African currencies in 2021. The South African rand ranked 1st place.
In the West Africa sub-region, the cedi placed 3rd in terms of performance.
See the table below for the top-performing currencies in Africa.
