The Ghana woes of the Ghanaian Cedi continue to slide further against major trading currencies leading to it being rated as the CHEAPEST in Africa.
According to Mr. Charlie Robertson who is the Global Chief Economist for Renaissance Capital based in London and a leading emerging and frontier markets, the Ghanaian Cedi this afternoon chalked the unpalatable title of being the cheapest in Africa. In a tweet posted on his twitter handle @RencapMan "#Ghana's currency in the last few minutes has just become the cheapest in Africa - (at GHS5.745/$) - based on our real effective exchange rate model. Despite a current account covered by FDI and double-digit interest rates #cedi"
The Ghanaian Cedi continue to slide further and further, in February Bloomberg also reported that the Cedi had seen it's lowest fall since they started monitoring the currency in 2004.
Already importers and traders are beginning to pass on the cost onto consumers.