In six months, the Ghanaian cedi has lost 30.56% against the US dollar. Despite Ghana’s central bank’s tough stance on inflation, the Cedi has fallen significantly. This is very disturbing and has raised concerns in the country.
How much is $1500 dollars in Ghana cedis?
As of August 10, 2022. one dollar is equivalent to 9.07 cedis. So $1500 dollars will amount to 13,605 Ghana Cedis.
This is a huge problem for the country and needs to be addressed as soon as possible. In 2020, that same amount of $1500 dollars will amount to 8,400 Ghana Cedis.
All the same, Finance Minister Ken Ofori-Atta has stated that the government remains committed to implementing measures to address the Ghana cedi’s persistent depreciation against its main trading partners.
Ghana has requested up to $1.5 billion from the International Monetary Fund (IMF) in order to strengthen its finances and regain access to international capital markets.