Ghana’s cedi now world’s worstperforming currency against US dollar

the currency of the world’s second-guess cocoa producer depreciated 3.3 percent on Monday to 11.2750 per dollar.

The media company said the cedi’s poor performance against the dollar was the worst among 148 currencies tracked by it.

With the development, the cedi has switched positions with the Sri Lankan rupee, which is now the second worst performer with a 44.7 percent drop to the greenback this year.

In July, Ghana started engaging with the International Monetary Fund (IMF) for a bailout programme to restore macroeconomic stability.

The economic woes and spiraling inflation in the West African country had forced hundreds of citizens to take to the streets to demonstrate against price hikes, a tax on electronic payments, and other levies.