Business News of Monday, 3 February 2020Source: www.ghanaweb.comGhana’s Cedi is the best performing currency in the world against the US Dollar - BloombergVice President Bawumia is head of the government's Economic Management TeamRenowned world financial news, research and data organisation Bloomberg, has rated the Ghanaian Cedi as the best-performing currency in the world against the United States Dollars. In a report published on Monday, Bloomberg described the Cedi, the "world’s best-performing currency against the dollar this year" adding that the Cedi has "extended its advance on Monday as investors await a Eurobond sale that would bolster the government’s coffers." The global financial and economic research experts added that the currency of the world’s second-biggest cocoa producer has strengthened 3.9% in 2020, the most among more than 140 currencies tracked by Bloomberg. The strengthening of the Cedi, is a remarkable turnaround from last year, when it unusually weakened by almost 13%. Bloomberg's report follows a recent positive ratings of the management of the Ghanaian economy by international ratings agency, Moody’s, which revised Ghana’s economic outlook from stable to positive, whilst affirming B3.

Source: GhanaWeb February 03, 2020 18:45 UTC