A recent report from the Forbes currency calculator has shown that Ghana's local currency - the Ghana cedi - secured its position as the seventh strongest currency on the African continent during the first quarter of the year.

 However, despite this achievement, the Bank of Ghana reported a 5.3% decline in the cedi's value on the interbank market within the same period.

 Leading the pack of African currencies was Tunisia's Dinar, valued at 3.09 per US dollar. The second was Libyan Dinar, followed by Morrocco’s Dirham.

 Botswana's Pula, Seychelles' Rupee, and Eritrea's Nakfa ranked fourth, fifth, and sixth, respectively.  

Meanwhile, the Lesotho Loti, Namibian Dollar, and South African Rand rounded out the top ten, placing eighth, ninth, and tenth.

 SA/AE

Watch the latest edition of BizTech below:



Click here to follow the GhanaWeb Business WhatsApp channel