The Ghanaian cedi has appreciated to GH¢16.10 against the US dollar. The Central Bank reports a buying price of GH¢15.53 and a selling price of GH¢15.54. The British pound and euro have corresponding rates, with the Bank of Ghana recently selling over $200 million to curb depreciation.
Ghana’s cedi has recently appreciated from GH¢15.90 to GH¢16.10 against the US dollar, as reported by various forex bureaus. Additionally, the Central Bank notes that the cedi has a buying price of GH¢15.53 and a selling price of GH¢15.54 per dollar in its daily updates.
The currency rates for other major currencies are as follows: the British pound is bought at GH¢20.14 and sold at GH¢20.16, while the euro is priced at GH¢16.93 for buying and GH¢16.95 for selling. As of March 13, 2025, checks revealed that the cedi is being traded at a rate of GH¢16.10 to the dollar at some forex bureaus, with the pound at GH¢20.90 and the euro at GH¢17.60 in the retail market.
To address the depreciation of the cedi, the Bank of Ghana has intervened by selling over $200 million in the last quarter of 2024 to support and stabilize the local currency, thereby enhancing its performance against foreign currencies.
In summary, the Ghanaian cedi has experienced a slight appreciation against the US dollar, now trading at GH¢16.10 at designated forex bureaus. The Central Bank’s strategic sale of foreign currency, surpassing $200 million, aims to mitigate further depreciation, reflecting the ongoing efforts to stabilize the local currency amidst fluctuating international markets. The current trading rates for other currencies indicate a stable yet challenging economic landscape.
Original Source: www.ghanaweb.com
