Despite Ghana’s interest rate hike, Naira gains double-digits against the Cedi – Nairametrics

Ghana cedis
Despite Ghana’s central bank raising interest rates to offset shortfalls caused by global tensions in Europe, the Nigerian currency rose against the Ghanaian Cedi in the first quarter of 2022.
The Naira has gained a huge 16.68% year to date (YTD) against the Ghana Cedi, demonstrating the strength of Nigeria’s foreign exchange position in the region.
The Ghanaian Cedi/Nigerian Naira (GHSNGN) was trading at a 5-year low of 56.895 at the time of writing this article. This is a gain for the Naira of around 26.69% over the last five years with the most decline seen this year.
For further inquiries about this article, contact: Email: Ifeanyi.ubah@nairametrics.com Twitter: @ubahjc Linkedln: Jeremiah Ubah
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