- Cash transfer company Wise has been compelled to suspend funds transfers in Ghana cedis because of the local currency’s rapid appreciation this week
- The company says it will resume transfers in Ghana cedis once the appreciation stabilises
- The cedi has appreciated by a whopping 47% this week in what has been described as unprecedented for a struggling currency only recently
International cash transfer company Wise has announced that it has temporarily suspended transfers in Ghana cedis following the currency’s rapid appreciation against the dollar and other major foreign currencies this week.
According to a Reuters report, a spokesperson of the funds’ transfer company explained on Friday, December 16 that it has become costly to transfer money to Ghana and in Ghana cedis.
