The exchange rate has seen fast appreciation of the cedi against the dollar this week which has made sending money to the West African nation more expensive, prompting Wise (WISEa.L), a cross-border payments business, to suspend transfers in the cedi, a representative for the company told Reuters on Friday.
According to Refinitiv Eikon statistics, the cedi has gained 47% this week when compared to the dollar, which is a record increase for a currency that was only last week among the worst performers of the year. By Friday’s end, it had fallen 29% from the beginning of the month.
Meanwhile the dollar rate to the cedis has recorded a fall . Check the current rate from here
