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Business News of Monday, 18 February 2008

Source: GNA

GH Cedi appreciates

Accra, Feb. 18, GNA - The Gold Coast Security (GCS)-Cedi Index opened the week on Monday with a 0.10 points fall showing a gain in the value of the cedi against the four major international currencies. The Index, which is a composite measure of the value of the Ghana cedi against the Dollar, Pound, CFA and the Euro, fell from 104.63 points last Friday to 104.53 on Monday.

The cedi appreciated against the British Pound by 1.35 GH cedis and depreciated by 0.30 GH pesewa against Euro. It, however, remained flat against the CFA and the Dollar.

Change for the year to date stands at 0.65 per cent. The Index is calculated as a geometric weighted average of changes in the four currency rates against the cedi at the Inter-bank market, relative to a base of 100 set in July 2007.

The following are the exchange rates for the four currencies on Monday February 18, 2008.

Currency Buying Selling (GH Cedis) (GH Cedis)

Dollar 0.9614 0.9830

Pound 1.8815 1.9240

Euro 1.4119 1.4435

CFA 454.42 464.60