The Ghanaian cedi has lost 30.56% against the US dollar in six months. Despite Ghana’s central bank’s aggressive policy on inflation, the cedi has dropped significantly. This is extremely disturbing and has sparked concern throughout the country.
How much is $300 in Ghana cedis?
One dollar equals 9.07 cedis as of August 10, 2022. So $300 is equivalent to 2,721 Ghana Cedis.
This is a major issue for the country that must be addressed as soon as possible. In 2020, the same $300 will be equivalent to 1,680 Ghana Cedis.
To do this calculation, just multiply the amount in dollars you want to convert to cedis by the equivalent of one dollar in cedis, just as in the example above.
At a time when Ghana is dealing with economic disruptions caused by the Russian-Ukraine war, a stronger US dollar, supported by interest rate hikes in the US, would only hasten the depreciation.