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African news explained

Ghana's cedi hits record low

Audio 06:07
Ghana's president John Dramani Mahama
Ghana's president John Dramani Mahama Reuters/Luc Gnago

Ghana’s national currency, the cedi, is sinking to record lows with some analysts arguing that political instability is the cause. There are fears that Ghana’s Supreme Court could annul President John Dramani Mahama’s election victory. There is speculation the currency could drop to 2.2 per dollar in the next six months as companies continue to stockpile dollars. But RFI observer Ike Nwobodo is confident about the cedi's future.

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