| Last year Ghana’s currency, the cedi, was the world’s worst-performing currency. Now, in a remarkable turn-around, it’s the world’s best-performing currency. But beware. The cedi’s 26% surge this month is based on misplaced optimism about the economy, according to both Morgan Stanley and Rand Merchant Bank, a unit of Africa’s biggest lender.
The median of five analyst forecasts compiled by Bloomberg suggests it could slide all the way back to a record low by the middle of next year, posting the biggest drop of any currency after Venezuela’s bolivar on its way...............................................Full Article: Source
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