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Notes on cedi FX risk.

Working notes on currency risk for Ghanaian finance teams: the arithmetic behind a margin, what a rate move costs, and how bank FX quotes are priced.

  1. Note

    Why your import-export business can work all year and still miss its profit

    Why operational effort and real trading activity can still fall short of expected profit, and how currency exposure can stay hidden until period end.

    Desmond Asime6 min read

    Read the note
    Still open.Currency exposure across the trading cycleTenderOrderInvoiceSettlementSee the exposure while there is still time to respond.

  2. Note

    Cedi volatility: how a 20% margin became a loss

    A GH₵1m fixed-price contract signed at a 20% margin settled at 8.9%. The arithmetic, the breakeven rate behind it, and why the invoice date is too late.

    Desmond Asime6 min read

    Read the note
    11.76Breakeven, GHS per USD. Settled at 11.90.Contract makes money10.5011.0011.5012.00Breakeven 11.76DecJanFebMarAprMayJun

  3. Tool

    Breakeven exchange rate calculator

    Pick any two currencies. Put in a contract’s price, the cost of the goods and your overheads, and see the rate at which it stops making money, and the rate that keeps your margin.

    Any currency pairFree, nothing stored

    Open the calculator
    11.76Breakeven rate, any currency pair.Contract valueGH₵1,000,000Cost of the goods$76,555Overheads10%Margin to keep5%Rate that keeps 5%11.10