S. OlawaleDollars to Cedis Exchange Rate : USD to GHS Rate Today
If you are wondering how much is one dollar in ghana cedis, the NaijaQuest has got you covered with our daily update. The exchange rate of Dollars to Cedis { USD to GHS } today is 1 Ghana cedi to 0.251904 US dollars , or 1 US dollar to 3.96977 Ghana cedi . The Ghanaian economy has a diverse and rich resource base, that includes manufacturing and exportation of digital goods, the exportation of diverse and rich resources like hydrocarbons and industrial minerals, automotive and ship construction and exportation. These rich economy resource base has given Ghana one of the highest GDPs per capital in African continent. Ghana became the fastest growing economy in the world in 2011.
Dollars to Cedis Exchange Rate : USD to GHS Rate Today
– 1 Ghana cedi to 0.251904 US dollars
– 1 US dollar to. 3.96977 Ghana cedi
The rapid depreciation of the Ghanian cedi against other major foreign currencies continues to destabilize the Ghanaian economy over the years. Exchange rate depreciation implies an increase in the volume of the local currency for a unit of a foreign currency that it js exchanged with, this is a measure used in the Ghanian foreign exchange market.
On an annual basis since the era of the fourth Cedi, there has not been a single year which the Ghanian cedi has not lost a percentage of it’s value. This as been consistent since the country moved from the fixed exchange rate system to the current floating exchange rate. The Ghanian cedi has lost about 99.9841 percent of its original value against the US dollar over the last three decades.
The effects of this continuous currency depreciation are known not only by intellectuals and financial experts, but also a ordinary man or woman on the street has some of the effects of rapid local currency exchange rate depreciation.
The basic cause of the Ghanaian cedi exchange rate depreciation is directly linked to the demand and supply of foreign currency over the local currency. Most often, Ghana’s heavy reliance on imports and dependence on exports of primary commodities are cited as the major sources of the currency problem in Ghana. The Ghanaian Cedi depreciation raises the domestic currency value of foreign currency debt and debt service burden in view that domestic revenues are generated in domestic currency.
There you have it on ” Dollars to Cedis Exchange Rate : USD to GHS Rate Today “, share your thought and suggestions with us through the comment box and like us on facebook @ facebook.com/9jaquest or follow us on twitter @ twitter.com/naijaquest. Thanks
Related:
- Best Universities in Ghana 2016, Top 10 List
- Aliko Dangote Private Jet : CheckOut D Pics Here
- How to Send Money from Nigeria to USA , UK or Any Country in World
- Shatta Wale Biography Net Worth and His Latest Songs
- Black Billionaires, 10 Top World Richest Black Man in The World 2016
Tags: dollar to cedi rate , convert dollars to cedis exchange rate in ghana cedi exchange rate , 1 usd to ghs , 100 usd to ghc to usd ghs currency