Ghanaian Cedi and the US Dollar trade war leaves the Cedi at a depreciated value now selling at 14.80 at some forex bureaus in Accra.
Reports by the Bank of Ghana however point to varying figures, and the bank of Ghana has assured Ghanaians to do all that it can to stabilise the Dollar.
Bank of Ghana’s Figures: Ghanaian Cedi and Dollar rate
The Ghana Cedi’s performance against major currencies showcases fluctuations and trends impacting the economy. Against the US Dollar, the Cedi is quoted at a buying price of 13.6754 and a selling price of 13.6890, indicating a certain level of stability in this exchange according to the Bank of Ghana rates on its websites.
Ghanaian Cedi Against Other Currencies
In addition to the dollar, the performance of the Cedi against other key currencies such as the Pound Sterling and Euro also merits attention. Against the Pound Sterling, the Cedi is trading at a buying price of 17.1079 and a selling price of 17.1277. Similarly, against the Euro, the Cedi is quoted at a buying price of 14.7266 and a selling price of 14.7411. However, at forex bureaus in Accra, different rates prevail, reflecting localized market conditions and consumer preferences.
These fluctuations in interbank and retail forex rates underscore the importance of monitoring currency dynamics for businesses, investors, and policymakers alike. Understanding these trends enables stakeholders to make informed decisions in managing currency risk and capitalizing on opportunities in the global marketplace.
