CMA, Central Bank of Curaçao and Sint Maarten, CySEC +5 more
Forex brokers wey get Ghanaian Cedi accounts
Ghanaian Cedi (GHS) na di official money for Ghana, we country wey dey for West Africa. Dem first introduce am for 2007, after dem remove four zeros from di old money. Bank of Ghana wey dem dey call di central bank of Ghana, na dem dey responsible to issue and regulate the money, e go still dey make sure say di inflation rates no too high.
Even though you fit trade Ghanaian Cedi for Forex and CFD platforms, e go good make you sabi say only few brokers dem allow clients make dem fit open live accounts for GHS. If you fit open account wey your local money dey, e go fit helep you save moni wey dey come from currency conversions.
If you dey think about investments, e go good make you check if the money wey you wan invest no go dey change e value anyhow because of inflation. You go still dey look out for economic indicators, political stability, and central bank policies so you go fit know if di Ghanaian Cedi go still dey stable.
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Ghanaian Cedi (GHS) na free-floating money, dis one mean say im value na the one wey supply and demand dey determine for foreign exchange (FX) market. You suppose know say GHS no dey link directly to price of any particular commodity, so dem no dey call am commodity money.
Ghana don high for inflation for long time. Since dem introduce Ghanaian Cedi for 2007, di country dey face average annual inflation rate wey pass 7.1%. For June 2023, the inflation rate reach 42.5% compared to di same month for di previous year. These figures show say di Ghanaian Cedi no too dey stable, and if you get account wey denominated for GHS, e fit get plenty risk.
Because of the high inflation rate wey Ghana get, e go good make individuals and investors check the risk wey dey involved before dem start to do trading or investment with di Ghanaian Cedi. Make dem dey follow up for economic indicators, inflation trends, and central bank policies so dem go fit make informed decision about the Ghanaian Cedi.
