The Ghana Cedi’s recent decline predicts further currency losses – Report

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More than half of the value of Ghana’s currency has been lost this year, and if history is any indication, this trend of decline may continue.

The Ghana Cedi's recent decline predicts further currency losses - Report
The Ghana Cedi’s recent decline predicts further currency losses – Report

The Cedi, the worst-performing currency out of 148 monitored by Bloomberg, has lost more than 57% of its value against the US dollar so far this year and is expected to continue losing ground in November.

The previous such run ended in 2015. Following such an event, investors who kept betting on the dollar on average made 17% over the following six months.

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