Ghana cedis: Google regrets ‘glitch’ that tanked Ghanaian currency – Tek Portal

It fell to a report minimal against the greenback in February, in accordance to Bloomberg, and has depreciated by 8.6% this year — the most of extra than 140 currencies tracked by the economical information company.
But it was nonetheless a shock for Ghanians who checked Google’s forex conversion costs on March 15 to find out that the cedi was trading at a charge of 22.72 to a single US dollar — an enhance of more than 300% on the preceding working day.
The figure was the result of an mistake from the look for motor, not a disastrous financial crash.

Google defined the error in a letter to Ghana’s Ministry of Finance, which the ministry publicized in a push launch Wednesday.
“We are mindful of the challenge of inaccurate conversions for Ghanaian Cedi currency on Friday the 15th of March. This was brought on by a minimal glitch that was promptly set,” wrote Titi Akinsanmi, Google’s head of General public Plan & Authorities Relations, West and Francophone Africa.
“We often purpose to provide people with the most related, useful information to assistance them to make the appropriate conclusions. But sometimes there are temporary challenges that can induce persons to have undesired encounters, like the 1 this earlier Friday. This was regrettable,” Akinsanmi additional.
The Ministry of Finance also mentioned in the release that Nigeria and Pakistan have suffered equivalent faults in presenting their forex values this 12 months.
A Google spokesman did not dispute the ministry’s account but emphasised that the blunder was rectified in an hour. The spokesman additional that the dilemma in Nigeria was resolved even extra quickly.
As of March 22, Google’s program was giving a fee of 5.23 cedis to one US dollar.

http://rss.cnn.com/~r/rss/version_africa/~3/pduCHOYEQe8/index.html