Select a foreign currency that has either appreciated or depreciated versus the U.S. dollar in recent weeks, months, or last two years. Support the reason for appreciation or depreciation with at least two fundamental factors such as differentials in monetary policies, inflation rates, interest rates, capital flows, trade balances, unemployment rates, economic growth or gross domestic product (GDP), consumer or business confidence, and the like between two nations or zones. Explain why the factors you choose had the effects that they did. Foreign Currency

You should choose a foreign currency which has experienced an appreciation or decline in comparison to the U.S. dollars over the past weeks, months, and/or two years. At least two factors are needed to support appreciation and depreciation. These include differences in monetary policy, inflation rates or interest rates as well capital flows. The reasons the selected factors had the effect they did are explained.

 

Foreign Currency

 

Answer

In the last months, Ghana’s national currency, The Cedi, suffered a massive loss of 18% against US dollars. It is now the most underperforming African currency after Zimbabwe (Sarkodie and AfricaNews, 2022). The Bank of Ghana’s monthly exchange rate indicator showed that the U.S. Dollar Ghanaian Cedi was at 7. The April exchange rate indicator from the Bank of Ghana shows that the U.S. Dollar Ghanaian Cedi traded at 7. The Ghanaian currency’s free fall against foreign currencies could be due to many factors. For example, the increase in foreign currency demand by the country to pay for its imports can also explain the decline. The country was unable to borrow money from the international capital markets.

This widely impacted the country’s economy over this short period. Although measures were implemented to combat the negative effects of the devaluation

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