Ghana’s cedi weakened to a record low against the dollar as West - TopicsExpress

Ghana’s cedi weakened to a record low against the dollar as West Africa’s second-biggest economy grapples with budget and current-account deficits that have weighed on its creditworthiness. The cedi retreated 1.4 percent to 2.9975 per dollar as of 12:30 p.m. in Accra, the capital, heading to breach 3 per dollar for the first time since it was rebased in 2007, when four zeroes were removed. The currency of the world’s second-largest cocoa producer declined 21 percent this year, the worst performer among 24 African currencies tracked by Bloomberg.

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