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  • The Mysterious Meteoric Rise of the Cedi: Evidence for Exchange Rate Fixing in Supposedly Floating Rate Economy

    The Mysterious Meteoric Rise of the Cedi: Evidence for Exchange Rate Fixing in Supposedly Floating Rate Economy

    July 23, 2025
    Ghana

    The Cedi’s Sudden Rise In the middle of April 2025, after what seemed like an endless fall against the US dollar, the cedi pivoted and as if launched by an invigorated invisible hand, began a surprising rise. By the end of April, it had increased from $0.0645 (i.e. 15.50 ghs/$) to $0.0707 (i.e. 14.14 ghs/$)…

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