Ghana's Cedi Is The Lowest Value Against The US Dollar in the World

The Ghana cedi has become the lowest value against the US dollar in the world after it fell by 45.1 percent of its value against the US dollar this year.

According to Bloomberg, the price of the country, which is the second largest producer of cocoa in the world, decreased by 3.3 percent on Monday to 11.2750 per dollar, the news agency said the depreciation of the cedi against the dollar was the worst among the 148 currencies identified.

As a result, the cedi is now undervalued against the Sri Lankan rupee, which is now the second-worst with a 44.7 percent decline against the US dollar this year.

The economic crisis and rising prices in the West African country have forced hundreds of citizens to take to the streets to protest against higher prices, taxes on electricity bills, and other taxes.

In July, Ghana began intervening with the International Monetary Fund (IMF) for a bailout program to restore economic stability.