History Shows Ghana’s Cedi May Weaken Further From Record Low
- Charts show risk of double-digit drop for cedi in six months
- Rising fuel costs pushed producer inflation to seven-year high
This article is for subscribers only.
Ghana’s currency is trading near a record low and a long-term momentum indicator shows it’s at risk of further depreciation.
The cedi has lost 18% against the dollar this year, making it the worst-performing currency in Africa after Zimbabwe’s dollar. A 28-year analysis of the so-called Relative Strength Index, or RSI -- a measure of the rate of change in prices -- shows the pain may be far from over.