Business News of Friday, 16 December 2022Source: www.ghanaweb.comGhana's local currency - Cedi - has been suspended by cross-border payments company, Wise (WISEa.L), after its appreciation against major trading currencies, especially the US dollar this week, Reuters has reported. The spokesperson noted that only a few of customers' transfers were affected and they would start transfers to Ghana "as soon as the situation has stabilised." According to data released by Refinitiv Eikon, the Ghana Cedi has appreciated against the dollar by 47%. The cedi has since the start of this year suffered persistent depreciation against major trading currencies, especially the US dollar. Bloomberg reported that the cedi lost about 45.1% to the US dollar this year to sell at GH¢11.2625 per dollar.

Source: GhanaWeb December 16, 2022 18:18 UTC