At exactly 5:52 pm today, the Ghana Cedi made a further depreciation in value as 1 dollar is now equivalent to GH$¢6.
What is the cedi to the Dollar exchange rate?
At the start of the year, 1 dollar was equivalent to GH¢5.45 but it has been depreciating in value as the days go by.
A simple check on Google reveals that 1 Ghana Cedis is equivalent to 6 USD in 2021.
Meanwhile, Ghana’s total public debt stock has increased once again according to new data released by the Bank of Ghana.
The debt stock which ended the first quarter of 2021 at GH¢ 304.6 billion, increased by almost GH¢ 30 billion in April and May.
This saw Ghana’s total public debt as of the end of May 2021 rising to GH¢ 332.4.
The new debt figure brings Ghana’s debt to Gross Domestic Product (GDP) ratio to 76.6% as of the end of May.
This is the highest recorded so far in the past year, slightly higher than the debt to GDP ratio of 76.1% recorded at the end of 2020 according to data from the central ban