The Ghana cedi fell by 18.21 per cent against the US dollar in the first quarter of 2022, Bloomberg says.
It keeps the cedi in the ‘worst spot returns’ league table.
It also makes the cedi the worst-performing currency in Africa.
The Angolan Kwanza is the best-performing currency in Africa within the quarter.
It appreciated by 24 per cent against the dollar.
South Africa’s rand follows with an appreciation of 9.38% against the dollar.
CURRENCIES WITH “WORST SPOT RETURNS” AT THE END OF QUARTER 1, 2022
RANKING CURRENCY YEAR-TO-DATE
16th New Sudanese pound -2.08%
17th Ethiopian Birr -3.89%
18th Liberian dollar -4.94%
19th Sierra Leone leone -5.10%
20th Mauritian rupee -7.05%
21st Zambian kwacha -8.02%
22nd Egypt pound -14.27%
23rd Ghana cedi -18.21%
CURRENCIES WITH “BEST SPOT RETURNS” AT THE END OF QUARTER 1, 2022
RANKING CURRENCY YEAR-TO-DATE
1st Angolan kwanza 24.2%
2nd South African rand 9.38%
3rd Guinean franc 4.40%
4th Botswana pula 2.59%
5th Nigerian naira 1.74%
6th Kenya shilling 1.59%
7th Rwanda franc 0.66%
8th Mozambique new metica l0.19%
