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Business News of Tuesday, 26 February 2008

Source: GNA

GH Cedi rises marginally

Accra, Feb. 26, GNA - The GCS-Cedi Index, the composite measure of the value of the Ghana cedi against the four major international currencies, rose marginally at 0.04 points on Tuesday.

The Index rose from 104.74 points to 104.78 points to show a slight dip in the value of the cedi against the Dollar, Pound, CFA and the Euro.

On a whole, the cedi depreciated against the Pound by 0.49 GH cedis but appreciated against the Euro by 0.12 GH cedis and 0.01 against the dollar. It however remained stable against the CFA. Change for the year to date stands at 0.88 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 Tuesday February 26, 2008.