By Jason McLure Ghana’s domestic currency was unchanged against the dollar after a sale of foreign currency by the West African nation’s central bank halted a three-day slide in the cedi. The currency of the world’s second-biggest cocoa producer traded at 1.5180 as of 1:36 p.m. in Accra, according to data from Standard Bank Group [...]
Read the rest of this story »The following are the average inter-bank exchange rate of the dollar and derived rates for the major currencies against the cedi, as issued by the Ghana Association of Bankers on Monday, February 28, 2011. GHANA CEDI EQUIVALENT OF CURRENCY CURRENCY BUYING SELLING US Dollar 1.4909 1.5290 Pound Sterling 2.4026 2.4641 Swiss Franc 1.6059 1.6466 Australian [...]
Read the rest of this story »The Head of Treasury at the Bank of Ghana has retired from his position at the bank. Francis Kobina Andoh’s retirement comes after almost 28 years of service. He first joined the bank’s accounts and finance department, with his professional background as an accountant. He later moved to the audit department and then to the [...]
Read the rest of this story »President John Evans Atta Mills on Tuesday commissioned a new bank in Accra, the Energy Bank Ghana Limited, and called on financial institutions to reduce the cost of credit to stimulate industrial growth. He pointed out the reduction in the inflation rate and the improvement in the economic environment and urged the banks to reciprocate [...]
Read the rest of this story »The following are the average inter-bank exchange rate of the dollar and derived rates for the major currencies against the cedi, as issued by the Ghana Association of Bankers on Tuesday, February 22, 2011. GHANA CEDI EQUIVALENT OF CURRENCY CURRENCY BUYING SELLING US Dollar 1.4900 1.5290 Pound Sterling 2.4074 2.4736 Swiss Franc 1.5769 1.6198 Australian [...]
Read the rest of this story »Consumer confidence declined for the first month of this year though business confidence improved during the period. According to the latest Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) report released on Friday, the reduction in consumer confidence was mainly due to the impact of the recent increase in fuel prices. The 30 [...]
Read the rest of this story »The financial system in Côte d’Ivoire, West Africa’s second-biggest economy after Nigeria, is grinding to a halt after an exodus of international banks amid continued political chaos. The wave of bank closures has sharpened the barbs that continue to fly between the camps of Laurent Gbagbo and Alassane Ouattara, who both claim the presidency after [...]
Read the rest of this story »The Monetary Policy Committee (MPC) has maintained its policy rate at 13.5 per cent, citing strong revenue mobilisation, the pick-up in economic activity and improved fiscal situation at the beginning of 2011. Mr Kwesi Amissah-Arthur, Central Bank Governor, announced the decision at a press conference in Accra on Friday. He said while the Committee recognised [...]
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