EXCHANGE RATE IN GHANA EPUB
Ghanaian Cedi(GHS) Exchange Rates Today - Ghanaian Cedi Currency Converter - FX Exchange l Bank Name: Bank of Ghana. Current exchange rate US DOLLAR (USD) to Ghana Cedi (GHS) including currency converter, buying & selling rate and historical conversion chart. View a table of historical Ghanaian Cedi exchange rates against the US Dollar. You may also export this information to Excel or another spreadsheet program.
|Published:||24 July 2014|
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Therefore, the study is expected to reveal the macroeconomic factors that influence exchange rate, so that, monetary and fiscal policies could be used to manipulate them effectively to stimulate growth in the economy.
Besides, the study would assess the various exchange rate regimes that Ghana has implemented with the view of rising critical issues. Furthermore, the study would contributes to knowledge by examining the macroeconomic factors that influence exchange rate in contrast to existing literature that have examined impact of exchange rate on these macroeconomic variables.
Lastly, it would provide policy recommendations to policy-makers on ways to revive the foreign exchange rate market in Ghana. This includes introduction, concept of exchange rate, theoretical framework, exchange rate systems in Ghana, empirical analyses and conclusion.
This includes the summary of exchange rate in ghana results and major findings, policy implications, limitation of the study exchange rate in ghana recommendations to policy makers.
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Therefore, exchange rate is used to determine the relationship between domestic currencies relative to the rest of the world currency.
Currency appreciation often reduces the price of import goods and services which in turn reduces the international competitiveness of the nation Froyen, This means that, appreciation of real exchange rate in ghana rate relatively makes imports commodities cheaper and exports commodities expensive.
Also, currency depreciation makes import goods and services expensive and export goods and services cheaper which have effect on productivity, because, industries which depend on imported raw materials for production in the economy find it difficult, since, the cost of raw materials are high exchange rate in ghana 9 there by raising the cost of production.
Also, it reduces profit of firms or industries in the economy. Therefore, exchange rate fluctuation often causes problem for both producers and investors of a exchange rate in ghana, because it affects their business and the investment in an economy Obi et al; The monetary approach postulates that exchange rate is determined in the process of equilibrating the stock or total demand and supply of national currency in each nation.
United States dollar ghana cedi exchange rate history (USD GHS)
The demand for money depends on the level of real income in the nation, the general price level, and the real interest rate. The higher the real income and price, the greater the demand for money exchange rate in ghana that individuals and business demand for their day to day transactions or purchases.
On the other hand, the higher the interest rate, the greater is the opportunity cost of holding the money. Thus, the demand for money is inversely related to interest rate.
Ghana Exchange Rates and Real Effective Exchange Rates
The higher the interest rate, the smaller is the quantity of money demanded. For a given level of income and prices, the equilibrium interest rate is 10 determined at the intersection of the demand and supply curves of money in each nation Krugman and Obstfeld, Suppose that the foreign exchange market is in equilibrium such that the positive interest rate differential in favor of the foreign nation is equal to the forward discount on its currency.
Now, suppose that monetary authorities in the home country exchange rate in ghana the money supply. In exchange rate in ghana long run, this leads to a proportionate increase in the price level in the home country and depreciation of exchange rate in ghana currency and also, a fall in the interest rate which in turn affects the financial flow by an increase in financial investment to the foreign nation and exchange rate respectively Salvatore, Changes in relative national price levels determine changes in exchange rates over the long run Carbaugh, According to the law of one price, the same commodity should have the same price in both countries.
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The exchange rate in ghana power parity theory, however, is based on the implicit assumption that there are no transportation costs, tariffs, or other obstructions to the free flow of trade; that all commodities are traded internationally; and that no structural changes takes places in either nation.
Since these assumptions are not true, the absolute version of the purchasing power parity theory is potentially more useful. For example, if the prices double in the United State relative to those in the United Kingdom, the exchange rate of the dollar with respect to the pound sterling should double.