Cedi appreciates against Euro, CFA but…
Cedi appreciates against Euro, CFA but…
November 13, 2009
It remained flat to the US Dollar which pushed down the GCS-Cedi Index from 148.62 points on Thursday to 147.95 points.
The year-to-date shows that the cedi has depreciated 18.67 per cent, 35.25 per cent and 27.04 per cent to the Dollar, the Pound and the Euro respectively. Its depreciation against the CFA also stands at 21.30 per cent.
The index Change for the year to date and change base year (July 03 2007) to date now stands at 24.89 per cent and 47.95 per cent respectively.
It is inversely proportional. A quote of 105.50 means the cedi value has depreciated by 5.50 per cent since the base period, while a quote of 85.3 means the cedi has gained by 14.77 per cent since its base year.