Ghana cedi gets stronger against major currencies
The Ghana cedi on Monday opened the week with an appreciation to the US Dollar and UK Pound which pushed down the Gold Coast Security (GCS)-Cedi Index by 0.04 points.
The cedis gained GHp0.03 and GHp0.03 against the Pound and the Dollar respectively and remained flat with the Euro and CFA thus bringing down the Index from 148.90 points to 148.86 points.
The Index is a composite measure of the value of the Ghana cedi against the four major international currencies, Dollar, Pound, CFA and the Euro.
Change for the year to date stands at 25.65 per cent with a change year-to-date of 48.86 per cent.
The Index is calculated as a geometric weighted average of changes in the four currency rates against the cedi at the Inter-bank market, relative to a base of 100 set in July 2007.
The following are the exchange rates for the four currencies on Monday August 24, 2009.