Today’s Bank of Ghana Interbank Forex Rates, as of November 3, 2023 has it that, the Ghana Cedi is trading against the US Dollar at a buying price of 11.4960 and a selling price of 11.5076.
Against the Pound Sterling, the Cedi is trading at a buying price of 13.9930 and a selling price of 14.0081.
The Euro is trading at a buying price of 12.2071 and a selling price of 12.2192.
The South African Rand is trading at a buying price of 0.6226 and a selling price of 0.6231.
The Nigerian Naira is trading at a buying price of 72.1183 and a selling price of 72.3461.
For the CFA, it is trading at a buying price of 54.1491 and a selling price of 54.1983.
Forex Bureau Rates in Accra for the same date:
The US Dollar is being bought at a rate of 11.85 and sold at a rate of 12.10.
The Pound Sterling is being bought at a rate of 14.30 and sold at a rate of 14.80.
The Euro is being bought at a rate of 12.50 and sold at a rate of 12.90.
The South African Rand is being bought at a rate of 0.35 and sold at a rate of 0.95.
The Nigerian Naira is being bought at a rate of 8.50 Naira for every 1 Cedi and sold at a rate of 14.50.
The CFA is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 19.50 CFA for every 1 Cedi.
The Bank of Ghana’s Interbank forex rates as of November 1, 2023, has it that the Ghana Cedi is currently trading against the US Dollar at a buying price of 11.4906 and a selling price of 11.5020.
At a Forex bureau situated in Accra, the US Dollar is being bought at a rate of 11.95 and sold at 12.20.
In the case of the Pound Sterling, the Cedi is trading at a buying price of 13.9323 and a selling price of 13.9474.
At a Forex Bureau located in Accra, the Pound Sterling is being purchased at a rate of 14.30 and sold at 14.80.
For the Euro, the Cedi is currently trading at a buying price of 12.1383 and a selling price of 12.1493.
At a Forex Bureau in Accra, the Euro can be acquired at a rate of 12.50 and sold at a rate of 12.90.
The South African Rand, on the other hand, is trading at a buying price of 0.6129 and a selling price of 0.6135.
At a forex bureau based in Accra, the South African Rand can be bought at a rate of 0.35 and sold at a rate of 0.95.
The Nigerian Naira is trading at a buying price of 70.4575 and a selling price of 70.5009.
At a forex bureau in Accra, the Nigerian Naira is obtainable at a rate of 8.00 Naira for every 1 Cedi when buying and sold at a rate of 14.50.
Finally, for the CFA, it is trading at a buying price of 53.9913 and a selling price of 54.0403.
At a forex bureau in Accra, the CFA can be acquired at a rate of 17.00 CFA for every 1 Cedi when buying and sold at a rate of 19.50 CFA for every 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
On October 31, 2023, the Bank of Ghana’s Interbank forex rates indicate the following currency exchange values:
Ghana Cedi is trading against the US Dollar at a buying price of 11.4656 and a selling price of 11.4770. At a Forex bureau in Accra, the US Dollar is being bought at a rate of 11.90 and sold at 12.20.
Against the Pound Sterling, the Cedi is trading at a buying price of 13.9364 and a selling price of 13.9515. At a Forex Bureau in Accra, the Pound Sterling is being bought at a rate of 14.25 and sold at a rate of 14.75.
The Euro is trading at a buying price of 12.1768 and a selling price of 12.1879. At a Forex Bureau in Accra, the Euro is being bought at a rate of 12.40 and sold at a rate of 12.80.
The South African Rand is trading at a buying price of 0.6103 and a selling price of 0.6110. At a Forex bureau in Accra, the South African Rand is being bought at a rate of 0.35 and sold at a rate of 0.95.
The Nigerian Naira is trading at a buying price of 69.1578 and a selling price of 70.2911. At a Forex bureau in Accra, the Nigerian Naira is being bought at a rate of 8.00 Naira for every 1 Cedi and sold at a rate of 14.00.
For the CFA, it is trading at a buying price of 53.8203 and a selling price of 53.8694. At a Forex bureau in Accra, the CFA is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 19.50 CFA for every 1 Cedi.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Fitch anticipates that Ghana’s public sector debt will climb to 99% of Gross Domestic Product (GDP) by the end of 2023, up from 88% in 2022.
This projection is attributed to the depreciation of the cedi against the US dollar. Thus far, the local currency has experienced a devaluation of approximately 11.80% against the dollar in the retail market and 22% on the interbank market.
Fitch has noted that without a restructuring under the Common Framework, public sector debt is expected to decrease to 95% of GDP in 2024 and 94% in 2025. This would occur alongside ongoing fiscal consolidation efforts and stabilization of the cedi.
In contrast, the International Monetary Fund (IMF) had initially projected a reduction in Ghana’s debt-to-GDP ratio for 2023, estimating it to be 84.9% compared to 92.4% in 2022.
According to the October 2023 Fiscal Monitor by the IMF, the nation’s total debt-to-GDP ratio is predicted to progressively decline over the next five years.
Ghana’s public finances faced challenges in the preceding year, leading to a prolonged inability to access the Eurobond markets, which subsequently impacted external liquidity.
These difficulties resulted in Fitch downgrading Ghana to ‘CCC’ in the prior year, followed by additional downgrades, ultimately culminating in the country’s placement on restricted default (‘RD’) at the start of 2023. Fitch affirmed both the Long-Term Foreign-Currency (LTFC) and Long-Term Local-Currency (LTLC) Issuer Default Ratings (IDRs) at ‘RD’ on July 28, 2023.
Nevertheless, Fitch pointed out that foreign-currency debt comprises less than 40% of Ghana’s total public debt, which is considerably below the ‘B’ median. Additionally, Ghana boasts superior levels of governance in comparison to the ‘B’ median and has a track record of democratic elections with peaceful transitions of power since 1992.
Nonetheless, Fitch expressed concerns about the nation’s vulnerabilities, including its limited international liquidity position, low per-capita income, human development indicators, and a heavy reliance on exports of oil, gold, and cocoa, making it susceptible to fluctuations in commodity prices.
The latest Interbank forex rates published by the Bank of Ghana on October 25, 2023, indicate that the Ghana Cedi is exchanging against the US Dollar at a buying rate of 11.4522 and a selling rate of 11.4636.
In a Forex bureau located in Accra, the US Dollar is being purchased at 12.00 and sold at 12.25.
Regarding the Pound Sterling, the Cedi is trading at a buying rate of 13.9350 and a selling rate of 13.9501.
At an Accra-based Forex Bureau, the Pound Sterling is available for purchase at 14.45 and can be sold at 14.85.
The Euro is listed at a buying rate of 12.1332 and a selling rate of 12.1453.
At a Forex Bureau in Accra, the Euro can be acquired at a rate of 12.50 for buying and sold at a rate of 12.95.
The South African Rand has a buying rate of 0.6011 and a selling rate of 0.6014.
In an Accra-based forex bureau, the South African Rand can be bought for 0.35 and sold for 0.95.
The Nigerian Naira is quoted at a buying rate of 71.2644 and a selling rate of 72.6835.
At an Accra forex bureau, the Nigerian Naira can be bought at a rate of 8.50 Naira for every 1 Cedi and sold at a rate of 14.00.
As for the CFA, it is trading at a buying rate of 54.0091 and a selling rate of 54.0630.
In a forex bureau located in Accra, the CFA is obtainable at a rate of 17.50 CFA for every 1 Cedi for buying and can be sold at a rate of 20.00 CFA for every 1 Cedi.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
As of October 24, 2023, according to the Bank of Ghana’s interbank forex rates, the Ghana Cedi is trading against the US Dollar at a buying price of 11.4362 and a selling price of 11.4476.
In Accra’s forex bureaus, the US Dollar is being bought at 12.00 and sold at 12.25.
Against the Pound Sterling, the Cedi has a buying price of 13.9819 and a selling price of 13.9970, while in Accra’s forex bureaus, the Pound Sterling is bought at 14.50 and sold at 14.90.
The Euro’s rates are 12.1740 for buying and 12.1851 for selling. In Accra, the Euro is purchased at 12.50 and sold at 12.95.
The South African Rand’s rates are 0.6040 for buying and 0.6046 for selling, and in Accra’s forex bureaus, it’s bought at 0.35 and sold at 0.95.
The Nigerian Naira is traded at a buying price of 71.3535 and a selling price of 73.3672, while in Accra’s forex bureaus, the rate is 8.50 Naira for every 1 Cedi when buying and 14.00 when selling.
Finally, for the CFA, the buying rate is 53.8327 and the selling rate is 53.8818, and in Accra’s forex bureaus, it’s bought at a rate of 17.50 CFA for every 1 Cedi and sold at a rate of 20.00 CFA for every 1 Cedi.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
As of October 19, 2023, the Bank of Ghana’s interbank forex rates indicate that the Ghana Cedi is trading against the US Dollar with a buying price of 11.3548 and a selling price of 11.3662.
In Accra’s Forex bureaus, the Dollar is being purchased at 11.90 and sold at 12.20.
Regarding the Pound Sterling, the Cedi has a buying rate of 13.7916 and a selling rate of 13.8065.
Accra’s Forex Bureaus offer the Pound Sterling at a buying rate of 14.40 and a selling rate of 14.80.
The Euro is traded with a buying price of 11.9563 and a selling price of 11.9682.
In Accra’s Forex Bureaus, the Euro is acquired at a buying rate of 12.35 and sold at 12.75.
The South African Rand can be obtained with a buying price of 0.5961 and a selling price of 0.5967.
Accra’s Forex Bureaus deal with the South African Rand, buying it at 0.35 and selling it at 0.95.
The Nigerian Naira’s buying rate is 68.1695, and the selling rate is 68.2576.
In Accra’s Forex Bureaus, the Nigerian Naira is purchased at 9.50 Naira for 1 Cedi and sold at 14.50 Naira for 1 Cedi.
As for the CFA, it has a buying price of 54.8083 and a selling price of 54.8629.
In Accra’s Forex Bureaus, the CFA is bought at a rate of 16.50 CFA for 1 Cedi and sold at a rate of 19.00 CFA for 1 Cedi.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
On October 16, 2023, the Interbank forex rates from the Bank of Ghana indicate that the Ghana Cedi is trading against the US Dollar at a buying price of 11.3057 and a selling price of 11.3171.
In Accra’s Forex bureau, the Dollar is bought at 11.75 and sold at 11.95 Cedis. Against the Pound Sterling, the Cedi is bought at 13.7252 and sold at 13.7400.
In the same Forex bureau, the Pound Sterling is bought at 14.30 and sold at 14.70 Cedis.
The Euro is bought at 11.8843 and sold at 11.8951.At the Forex Bureau in Accra, the Euro is bought at 12.20 and sold at 12.60 Cedis.
The South African Rand is bought at 0.5950 and sold at 0.5955.
In the Forex bureau, the Rand is bought at 0.35 and sold at 0.95 Cedis. The Nigerian Naira is bought at 68.0296 and sold at 68.1180.
At the Forex bureau, 1 Cedi can be exchanged for 10.00 Naira when buying and 15.00 Naira when selling.
For the CFA, it is bought at 55.1451 and sold at 55.1953.
In Accra’s Forex bureau, 1 Cedi can be exchanged for 16.50 CFA when buying and 19.00 CFA when selling.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The Bank of Ghana’s Interbank forex rates on October 9, 2023, reveal that the Ghana Cedi is exchanging against the US dollar at a purchase rate of 11.2231 and a selling rate of 11.2343.
In an Accra-based Forex bureau, the Dollar is being purchased at a rate of 11.65 and sold at 11.95.
Against the Pound Sterling, the Cedi has a buying rate of 13.7326 and a selling rate of 13.7486.
At a Forex Bureau in Accra, the Pound Sterling is being acquired at a rate of 14.10 and sold at 14.60.
The Euro is currently trading at a buying rate of 11.8753 and a selling rate of 11.8870.
In an Accra-based Forex Bureau, the Euro can be purchased at a rate of 12.00 and sold at a rate of 12.50.
The South African Rand has a buying rate of 0.5811 and a selling rate of 0.5815.
At a Forex bureau in Accra, the South African Rand is being bought at a rate of 0.35 and sold at a rate of 0.95.
The Nigerian Naira has a buying rate of 68.3739 and a selling rate of 68.4184.
In an Accra-based Forex bureau, the Nigerian Naira is being bought at a rate of 10.00 Naira for every 1 Cedi and sold at a rate of 15.00.
Regarding the CFA, it is trading at a buying rate of 55.1827 and a selling rate of 55.2371.
In a Forex bureau in Accra, the CFA can be bought at a rate of 16.50 CFA for every 1 Cedi and sold at a rate of 20.50 CFA for every 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Fitch Solutions has revealed that the Ghanaian cedi is anticipated to strengthen by approximately 1.0% against the US dollar in 2024 in its latest Country Risk report on Ghana.
This projected gain positions it as one of the top-performing currencies in Africa during that timeframe.
According to the UK-based firm, the government is expected to make significant headway in the restructuring of Ghana’s external debt through the G20 Common Framework by the second quarter of 2024. This development is predicted to bolster investor confidence in Ghanaian assets, stimulate capital inflows, and provide essential support to the strength of the cedi.
“We forecast that the exchange rate will strengthen by roughly 1% in 2024 as we believe that the authorities will make progress regarding the restructuring of Ghana’s external debt under the G20 Common Framework”.
“Indeed, we anticipate that a deal will be reached around quarter 2 2024-quarter 3 2024, which will improve investor sentiment towards Ghanaian assets, drive capital inflows and provide support to the cedi.
In the past week, the Ghanaian cedi experienced a slight devaluation against the US dollar, attributed to increased domestic demand and the overall global strengthening of the US dollar.
However, a timely announcement by the International Monetary Fund Mission Team regarding a staff-level agreement with the Ghanaian government is anticipated to significantly boost investor confidence and enhance the country’s balance of payments in the future. This agreement will result in an additional $600 million inflow.
Forecasts indicate that by the end of 2024, the local currency is expected to depreciate by approximately 11.50% against the US dollar in the retail market, reaching a rate of ¢11.60 to one US dollar. This projected depreciation is notably lower than the approximately 40% devaluation observed in 2023.
Finance Minister Ken Ofori-Atta has noted that the local currency has been relatively stable so far this year against foreign currencies.
At a news conference hosted by the Ministry of Finance, the Bank of Ghana, and the International Monetary Fund (IMF) today on Ghana’s bailout, the Finance Minister indicated that from January till date, the cedi has depreciated by 23.5%.
“The Ghana cedi has remained relatively stable from the beginning of the year till date, depreciating culminative by 23.5 percent over the period. But that really is essentially a huge jump in January, and basically since February to date, about 2.5 percent creating the kind of stability that is required for businesses and for confidence to be built up,” he said.
He continued: “So the impression over this period, February to now is only 3.1 percent.
On October 6, 2023, as per the Bank of Ghana’s Interbank forex rates, the cedi is trading against the US dollar with a buying price of GHS11.2193 and a selling price of GHS11.2305.
At the forex bureau, the dollar is being purchased at a rate of GHS11.65 and sold at GHS11.95.
With regards to the fiscal front, Mr Ken Ofori-Atta stated that the primary balance on a commitment basis for the half-year 2023 was a surplus of about 2 billion of the target of 4 billion.
This, he said, was driven in part by strong non-oil domestic revenues and rationalized spending.
Also, non-oil public revenue for the period was 50.1 billion, compared to the program target of 49.8 billion.
Today, on October 6, 2023, as per the Bank of Ghana’s Interbank forex rates, the Ghana Cedi is trading against the US Dollar with a buying price of 11.2193 and a selling price of 11.2305.
In Accra’s Forex bureau, the Dollar is being purchased at a rate of 11.65 and sold at 11.95.
Against the Pound Sterling, the Cedi has a buying price of 13.6584 and a selling price of 13.6731.
At an Accra-based Forex Bureau, the Pound Sterling is being bought at 14.10 and sold at 14.60.
The Euro’s trading figures indicate a buying price of 11.8172 and a selling price of 11.8280.
At a Forex Bureau in Accra, the Euro is available for purchase at a rate of 12.00 and sale at 12.50.
The South African Rand has a buying price of 0.5749 and a selling price of 0.5753.
At a Forex bureau in Accra, the South African Rand is traded at 0.35 for purchase and 0.95 for sale.
The Nigerian Naira’s exchange rate shows a buying price of 68.1093 and a selling price of 68.3748.
At an Accra-based forex bureau, the Nigerian Naira is bought at a rate of 10.00 Naira for every 1 Cedi and sold at 15.00 Naira for every 1 Cedi.
For the CFA, the rates indicate a buying price of 55.4580 and a selling price of 55.5087.
At a forex bureau in Accra, the CFA is acquired at a rate of 16.50 CFA for every 1 Cedi and sold at 20.50 CFA for every 1 Cedi.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Today, on October 2, 2023, the Interbank forex rates from the Bank of Ghana reveal the trading rates for the Ghana Cedi against major currencies.
Against the dollar, the Cedi is being bought at 11.1229 and sold at 11.1341. In Accra, at a Forex bureau, the dollar is being bought at 11.50 and sold at 11.70.
When trading against the Pound Sterling, the Cedi is bought at 13.5856 and sold at 13.6014. In Accra, the Pound Sterling is bought at 14.10 and sold at 14.60.
For the Euro, the buying price stands at 11.7716 and the selling price is 11.7832. In Accra, the Euro is bought at 12.00 and sold at 12.50.
The South African Rand is bought at 0.5888 and sold at 0.5893. In Accra, the Rand is bought at 0.35 and sold at 0.95. The Nigerian Naira has a buying price of 69.0165 and a selling price of 69.4568.
In Accra, it is bought at 10.00 Naira for every 1 Cedi and sold at 15.00. As for the CFA, it is bought at 55.6688 and sold at 55.7237. In Accra, CFA is bought at 16.50 CFA for every 1 Cedi and sold at 20.50 CFA for every 1 Cedi.
These rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Today, September 27, 2023, the Bank of Ghana’s Interbank forex rates reveal the following currency exchange figures: the Ghana Cedi is trading against the US Dollar at a buying price of 11.0736 and a selling price of 11.0846.
At an Accra-based forex bureau, the Dollar is bought at 11.45 and sold at 11.65. Against the Pound Sterling, the Cedi stands at a buying price of 13.4666 and a selling price of 13.4811, while at an Accra-based forex bureau, the Pound Sterling is bought at 14.30 and sold at 14.70.
The Euro’s rates are 11.7090 (buying) and 11.7217 (selling), with an Accra-based forex bureau offering a purchase rate of 12.00 and a selling rate of 12.50.
The South African Rand trades at a buying price of 0.5817 and a selling price of 0.5822, while at an Accra-based forex bureau, it’s bought at 0.35 and sold at 0.95.
The Nigerian Naira has a buying price of 68.6181 and a selling price of 69.2952, with an Accra-based forex bureau offering a rate of 10.00 Naira for 1 Cedi (buying) and 15.00 Naira for 1 Cedi (selling).
Lastly, the CFA trades at 55.9609 (buying) and 56.0216 (selling), while at an Accra-based forex bureau, it’s bought at a rate of 16.50 CFA for 1 Cedi (buying) and sold at a rate of 20.50 CFA for 1 Cedi (selling).
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The Bank of Ghana’s Interbank forex rates for September 25, 2023, reveal that the Ghana Cedi is trading against the dollar at a buying price of 11.0703 and a selling price of 11.0813. At an Accra forex bureau, the dollar is being bought at a rate of 11.40 and sold at a rate of 11.60.
Against the Pound Sterling, the Cedi is trading at a buying price of 13.5234 and a selling price of 13.5381. At an Accra forex bureau, the pound sterling is being bought at a rate of 14.30 and sold at a rate of 14.70.
The Euro is trading at a buying price of 11.7289 and a selling price of 11.7396. At an Accra forex bureau, the Euro is being bought at a rate of 12.00 and sold at a rate of 12.50.
The South African Rand has a buying price of 0.5897 and a selling price of 0.5903. At an Accra forex bureau, the South African Rand is bought at a rate of 0.35 and sold at a rate of 0.95.
The Nigerian Naira is trading with a buying price of 68.6181 and a selling price of 69.2952. At a forex bureau in Accra, the Nigerian Naira is bought at a rate of 10.00 Naira for every 1 Cedi and sold at a rate of 15.00.
For the CFA, it has a buying price of 55.8756 and a selling price of 55.9266. At a forex bureau in Accra, the CFA is bought at a rate of 16.50 CFA for every 1 Cedi and sold at a rate of 20.50 CFA for every 1 Cedi.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The expected depreciation of the cedi against the dollar in 2023 has been reduced by the Economist Intelligence Unit from 30.0% to approximately 23.0%.
This will rank the local currency as the third worst in all of Africa this year, according to its 2023 Updated African Outlook Report.
That report came from a business desk.
The UK-based company predicts that the cedi will lose less value than the 44.0% it lost against the US dollar in 2023.
Currently, the local currency has experienced a depreciation of just over 22% against the world’s most prominent currency, as per data from the Bank of Ghana. This suggests that from now until the end of the year, the local currency’s depreciation against the dollar will be minimal.
The EIU has emphasized that in 2022, most African currencies saw significant depreciation against the US dollar, and while it anticipates continued exchange-rate weakness in 2023, it expects the extent of depreciation to be less severe.
Sudan and Zimbabwe, projected to have the 1st and 2nd weakest African currencies, will also rank among the world’s weakest in 2023.
On the other hand, the Zambian kwacha is set to be the top-performing currency in Africa this year, appreciating against the dollar.
Following closely are the Burkina Faso CFA, Cameroon’s CFA, and the Congolese Franc, occupying the 2nd, 3rd, and 4th positions, respectively.
Today, on September 19, 2023, the Bank of Ghana has reported interbank forex rates indicating that the Ghana Cedi is trading against the dollar with a buying price of 11.0668 and a selling price of 11.0778.
Meanwhile, at a forex bureau in Accra, the dollar is being bought at a rate of 11.45 and sold at a rate of 11.65.
In addition, against the Pound Sterling, the Cedi is trading at a buying price of 13.7184 and a selling price of 13.7332, while at a forex bureau in Accra, the pound sterling is being bought at a rate of 14.30 and sold at a rate of 14.80.
Furthermore, the Euro is trading at a buying price of 11.8343 and a selling price of 11.8451, while at a forex bureau in Accra, the Euro is being bought at a rate of 12.00 and sold at a rate of 12.50.
Additionally, the South African Rand is trading at a buying price of 0.5818 and a selling price of 0.5824. At a forex bureau in Accra, the South African Rand is being bought at a rate of 0.35 and sold at a rate of 0.95.
Moreover, the Nigerian Naira is trading at a buying price of 68.6398 and a selling price of 69.3623. At a forex bureau in Accra, the NigerianNaira is being bought at a rate of 11.00 Naira for every 1 Cedi and sold at a rate of 16.00.
Lastly, for the CFA, it is trading at a buying price of 55.3779 and a selling price of 55.4285. At a forex bureau in Accra, the CFA is being bought at a rate of 16.50 CFA for every 1 Cedi and sold at a rate of 20.50 CFA for every 1 Cedi.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Data from the World Bank has shown that Ghana experienced the highest exchange rate loss in Africa between January 1, 2022, and January 1, 2023, with a depreciation of nearly 40%.
The World Bank notes that exchange rates across the region largely depreciated during this period, leading to increased costs for imported goods, including food and energy.
The Bretton Wood institution said countries such as Ghana that practice “crawl-like arrangements” recorded very sharp exchange rate depreciation. This was due to the expensive fiscal measures that are often used to limit the pass-through of exchange rates to inflation, with the resulting deteriorating fiscal position potentially further stressing exchange controls and exacerbating inflationary pressures.
“One key concern for managed and crawl-like arrangements is the possibility that parallel markets can influence exchange rate movements. Capital controls that often accompany such arrangements can lead to scarcity of forex reserves, forcing the government to prioritize specific transactions and charge a premium for official foreign exchange transactions”.
Sudan ranked second, experiencing a currency depreciation of approximately 23% during the same period. Following closely were Malawi (-20%), The Gambia (-16%), and Madagascar (-10%), securing the third, fourth, and fifth positions, respectively.
Fitch Solutions has provided a forecast, indicating that the Ghana cedi is expected to close at ¢11.40 against the US dollar by the end of 2023. This projection is lower than the earlier ¢12.40 estimate made earlier in the year when Ghana had yet to finalize an agreement with the International Monetary Fund for a bailout package.
The UK-based firm is also anticipating a further improvement in the exchange rate, with ¢10.90 to one US dollar in 2024. This is expected to be driven by anticipated inflows resulting from the International Monetary Fund program and an increase in investor confidence.
As of September 11, 2023, the Bank of Ghana’s Interbank forex rates indicate that the Ghana Cedi is trading against the US Dollar with a buying price of 11.0461 and a selling price of 11.0571.
In Accra’s forex bureaus, the US Dollar is being purchased at a rate of 11.40 and sold at a rate of 11.65.
Against the Pound Sterling, the Cedi has a buying price of 13.7833 and a selling price of 13.7993.
In Accra’s forex bureaus, the Pound Sterling is being bought at a rate of 14.35 and sold at a rate of 14.85.
The Euro is traded at a buying price of 11.8332 and a selling price of 11.8449.
In Accra’s forex bureaus, the Euro is being purchased at a rate of 12.10 and sold at a rate of 12.60.
The South African Rand has a buying price of 0.5786 and a selling price of 0.5790.
In Accra’s forex bureaus, the South African Rand is being bought at a rate of 0.35 and sold at a rate of 0.95.
The Nigerian Naira is traded with a buying price of 69.7320 and a selling price of 69.7410.
In Accra’s forex bureaus, the Nigerian Naira is purchased at a rate of 11.00 Naira for every 1 Cedi and sold at a rate of 16.00.
As for the CFA, it has a buying price of 55.3789 and a selling price of 55.4336.
In Accra’s forex bureaus, the CFA is being bought at a rate of 16.50 CFA for every 1 Cedi and sold at a rate of 20.50 CFA for every 1 Cedi.
Please take note that these rates could vary at a currency bureau close to you. Afriswap Bureau De Change in Osu, Accra, provides our exchange rates.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Today, September 6, 2023, the Bank of Ghana’s Interbank forex rates reveal that the Ghana Cedi is trading against the dollar at a buying price of 11.0175 and a selling price of 11.0285.
In Accra’s forex bureau, the dollar is purchased at a rate of 11.40 and sold at a rate of 11.65.
Against the Pound Sterling, the Cedi trades at a buying price of 13.8402 and a selling price of 13.8551, while in Accra’s forex bureau, the pound sterling is acquired at a rate of 14.50 and disposed of at a rate of 15.00.
The Euro is valued at a buying price of 11.8030 and a selling price of 11.8147, with the Euro exchange rate at 12.20 for buying and 12.70 for selling in Accra’s forex bureau.
The South African Rand’s exchange rate stands at a buying price of 0.5734 and a selling price of 0.5738, while in Accra’s forex bureau, it is purchased at a rate of 0.35 and sold at a rate of 0.95.
The Nigerian Naira’s rates are set at a buying price of 68.6973 and a selling price of 69.6725, with the exchange rate of 11.00 Naira for every 1 Cedi for buying and 16.00 for selling in Accra’s forex bureau.
Finally, the CFA is trading at a buying price of 55.1679 and a selling price of 55.2222, with exchange rates of 16.50 CFA for every 1 Cedi for buying and 20.50 CFA for every 1 Cedi for selling in Accra’s forex bureau.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The Bank of Ghana’s interbank forex rates for today, September 5, 2023, indicate that the Ghana Cedi is exchanging against the US Dollar at a buying rate of 11.0152 and a selling rate of 11.0262.
In Accra’s forex bureaus, the US Dollar is being purchased at 11.40 and sold at 11.65.
Against the Pound Sterling, the Cedi is trading at a buying rate of 13.9001 and a selling rate of 13.9151.
In Accra’s forex bureaus, the Pound Sterling is being bought at 14.50 and sold at 15.00.
The Euro is available at a buying rate of 11.8875 and a selling rate of 11.8993.
In Accra’s forex bureaus, the Euro is being acquired at 12.20 and sold at 12.70.
The South African Rand is trading at a buying rate of 0.5788 and a selling rate of 0.5791.
In Accra’s forex bureaus, the South African Rand is being purchased at 0.35 and sold at 0.95.
The Nigerian Naira can be obtained at a buying rate of 69.6380 and a selling rate of 70.7260.
In Accra’s forex bureaus, the Nigerian Naira is being bought at a rate of 11.00 Naira for every 1 Cedi and sold at a rate of 16.00.
As for the CFA, it is trading at a buying rate of 55.1679 and a selling rate of 55.2222.
In Accra’s forex bureaus, the CFA is being acquired at a rate of 16.50 CFA for every 1 Cedi and sold at a rate of 20.50 CFA for every 1 Cedi.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The near-term outlook for the Cedi suggests it will maintain a moderate level of stability in its exchange rates with its major trading partners.
This stability is expected to result from a combination of factors, including recent coupon payments for new bonds, decreased import demands, and foreign exchange allocations to the oil sector, which will help counter the increased demand from corporate entities.
Since the beginning of the year, the Cedi has experienced an approximate 22 percent depreciation against the U.S. dollar. However, it has managed to remain relatively stable, fluctuating within a range of 11.01 to 11.45 against the dollar in recent weeks.
Databank Research has highlighted a recent surge in corporate demand for foreign exchange in the past two weeks, temporarily straining liquidity in the market.
Nevertheless, the Cedi closed stronger, partly attributed to the Federal Reserve’s announcement of a cautious policy rate hike, which helped alleviate market uncertainties.
“While we envisage an increase in corporate demand and a possible offshore FX repatriation from the coupon payments on the new bonds, we expect the GH¢ to gain a cushion from this week’s BDCs FX auction,” Databank’s analysts stated.
According to GCB Capital, an observant player in the market, the current rally of the US dollar and tightening liquidity conditions in the foreign exchange market pose a certain level of risk to the stability of the Cedi. Nonetheless, they hold an optimistic view concerning fiscal improvements and the recent coupon payment, which are expected to enhance market sentiment.
Approximately two weeks ago, the Treasury successfully fulfilled its commitment by settling the first coupon payment of around GH¢2.4 billion for new bonds under the Domestic Debt Exchange Programme. This development alleviated concerns about the government’s ability to meet its financial obligations. Notably, a significant portion of this coupon payment, amounting to GH¢5.37 million, was allocated to individual bondholders.
GCB Capital, however, cautioned that the Cedi remains susceptible to short-term shocks if liquidity conditions in the foreign exchange market continue to remain tight. Their research arm emphasized, “The Cedi could face precarious conditions in the coming week if FX liquidity remains constrained.”
Meanwhile, analysts at Constant Capital believe that the Cedi is benefiting from reduced imports and diminished demand pressure for foreign exchange. Currently, a substantial trade surplus has bolstered the nation’s current account, resulting in a surplus of US$849 million in the first half of the year, equivalent to 1.1 percent of Gross Domestic Product (GDP). This improvement includes a significant year-on-year decline of 13.5 percent in imports compared to the same period last year when there was a deficit of 1.5 percent of GDP.
Analysts at Constant Capital anticipate certain expected foreign exchange inflows by the year-end, including a US$600 million disbursement from the International Monetary Fund (IMF) and funds from the cocoa syndicated facility.
“The local currency seems to be benefitting from reduced imports and lower demand pressure for FX, ahead of certain expected FX inflows toward year-end – the US$600million IMF disbursement and COCOBOD debt syndication.”
AZA Finance, which forecast that the cedi will remain comparatively stable because of a consistent supply of forex to meet retail demands, agreed with this general opinion.
On September 1, 2023, the Bank of Ghana released the Interbank forex rates, revealing the exchange rates for the Ghana Cedi against various currencies. Against the US Dollar, the Ghana Cedi is trading at a buying price of 11.0137 and a selling price of 11.0247.
At a forex bureau in Accra, the US Dollar is being purchased at a rate of 11.40 Cedis and sold at a rate of 11.65 Cedis.
In the case of the Pound Sterling, the Ghana Cedi is trading at a buying price of 13.9433 and a selling price of 13.9595.
At a forex bureau in Accra, the Pound Sterling can be bought at a rate of 14.50 Cedis and sold at a rate of 15.00 Cedis.
Regarding the Euro, the Ghana Cedi is exchanged at a buying price of 11.9409 and a selling price of 11.9537. In Accra’s forex bureaus, the Euro is available for purchase at a rate of 12.20 Cedis and is sold at a rate of 12.70 Cedis.
The South African Rand can be obtained at a buying price of 0.5837 and a selling price of 0.5839 when trading with the Ghana Cedi.
Meanwhile, in Accra’s forex bureaus, the South African Rand can be bought at a rate of 0.35 Cedis and sold at a rate of 0.95 Cedis.
For transactions involving the Nigerian Naira, the Ghana Cedi has a buying price of 68.7509 and a selling price of 71.9526. Additionally, in Accra’s forex bureaus, the Nigerian Naira can be bought at a rate of 11.00 Naira for every 1 Cedi and sold at a rate of 16.00 Naira for every 1 Cedi.
Lastly, when dealing with the CFA currency, the Ghana Cedi has a buying price of 54.8748 and a selling price of 54.9336.
In Accra’s forex bureaus, the CFA can be acquired at a rate of 16.50 CFA for every 1 Cedi and sold at a rate of 20.50 CFA for every 1 Cedi.
In terms of its operational endeavors, Gold Fields reported that it maintained its strategic momentum during the first half of 2023 by making notable progress in advancing several key initiatives.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The Bank of Ghana’s Interbankforex ratesfor August 21, 2023, reveal that the trading values of the Ghana Cedi are as follows:
Against the US Dollar, the Cedi has a buying price of 10.9996 and a selling price of 11.0106. At a Forex bureau in Accra, you can buy the US Dollar at a rate of 11.20 Cedi and sell it at a rate of 11.50 Cedi.
In terms of the Pound Sterling, the Ghana Cedi’s buying price stands at 14.0113, while its selling price is 14.0264. Alternatively, at a Forex bureau in Accra, you can purchase the Pound Sterling at a rate of 14.30 Cedi and sell it at a rate of 14.90 Cedi.
Compared to the Euro, the Ghana Cedi is valued at 11.9601 for buying and 11.9710 for selling. Similarly, at a Forex bureau in Accra, you can buy the Euro at a rate of 12.20 Cedi and sell it at a rate of 12.70 Cedi.
Concerning the South African Rand, the Ghana Cedi has a buying price of 0.5807 and a selling price of 0.5808. Moreover, at a Forex bureau in Accra, the South African Rand can be purchased at a rate of 0.35 Cedi and sold at a rate of 0.95 Cedi.
The Nigerian Naira can be acquired with a buying price of 69.5132 Cedi and sold at a rate of 69.9676 Cedi. Alternatively, at a Forex bureau in Accra, you can buy 11.00 Nigerian Naira for every 1 Cedi and sell it at a rate of 16.00 Nigerian Naira.
Lastly, the CFA Franc can be obtained with a buying price of 54.7955 Cedi and sold at a rate of 54.8454 Cedi. At a Forex bureau in Accra, you have the option to buy 16.50 CFA Franc for every 1 Cedi and sell 20.50 CFA Franc for every 1 Cedi
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
On August 9, 2023, the Bank of Ghana’s Interbank forex rates indicate that the Ghana Cedi is trading against the US Dollar at a buying price of 10.9967 and a selling price of 11.0077.
In Accra, at a Forex bureau, the US Dollar is being bought at a rate of 11.00 and sold at a rate of 11.50.
Against the Pound Sterling, the Ghana Cedi is trading at a buying price of 13.9922 and a selling price of 14.0073.
At a forex bureau in Accra, the Pound Sterling is being bought at a rate of 14.20 and sold at a rate of 14.90.
The Euro is trading at a buying price of 12.0415 and a selling price of 12.0534.
At a forex bureau in Accra, the Euro is being bought at a rate of 12.00 and sold at a rate of 12.70.
The South African Rand is trading at a buying price of 0.5803 and a selling price of 0.5803.
At a forex bureau in Accra, the South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 69.2989 and a selling price of 70.5059.
At a forex bureau in Accra, the Nigerian Naira is being bought at a rate of 11.00 Naira for every 1 Cedi and sold at a rate of 16.00 Naira for every 1 Cedi.
For the CFA Franc, it is trading at a buying price of 54.4209 and a selling price of 54.4747.
At a forex bureau in Accra, the CFA Franc is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
The Bank of Ghana’s Interbank forex rates for August 7, 2023, indicate that the Ghana Cedi is currently valued against the dollar with a buying price of 10.9962 and a selling price of 11.0072.
In Accra’s Forex bureau, the dollar is being purchased at 11.00 and sold at 11.50.
Regarding the Pound Sterling, the Cedi’s value stands at a buying price of 13.9828 and a selling price of 13.9979.
At the local forex bureau in Accra, the pound sterling is bought at 14.00 and sold at 15.30.
The Euro holds a buying price of 12.0406 and a selling price of 12.0515.
At the Accra-based forex bureau, the Euro’s exchange rate is 12.30 for buying and 12.90 for selling.
As for the South African Rand, it is currently bought at 0.5880 and sold at 0.5886.
The local forex bureau in Accra offers a buying rate of 0.30 and a selling rate of 0.90 for the South African Rand.
The Nigerian Naira is being acquired at a buying price of 68.9503 and a selling price of 70.1982.
In the Accra forex bureau, the Nigerian Naira can be bought at a rate of 11.00 Naira for 1 Cedi and sold at a rate of 17.00 Naira for 1 Cedi.
The CFA Franc’s value is set at a buying price of 54.4295 and a selling price of 54.4788.
At the Accra forex bureau, the CFA Franc can be purchased at a rate of 17.00 CFA for 1 Cedi and sold at a rate of 21.00 CFA for 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The cedi, which has been relatively stable since February 2023 after a sharp depreciation in January, is projected to maintain its course in the second half of the year (H2-23), supported by significant foreign exchange (FX) inflows and improved investor confidence.
According to Databank, an asset management company, the cedi will trade between GH¢10.9 and GH¢11.1 to US$1 by the end of the year, as the country is set to receive substantial funding from the World Bank and the International Monetary Fund (IMF), as well as proceeds from the cocoa syndicated loans. Moreover, Ghana’s external debt restructuring, which is on track to be completed in H2-23, will bolster investor confidence and help attract portfolio inflows.
The cedi depreciated by 20.6 percent against the US dollar in January 2023, amid a severe economic crisis triggered by large external shocks and exacerbated by the COVID-19 pandemic. However, the cedi has remained generally stable since then, with a cumulative depreciation of only 1.8 percent between February and June 2023.
The stability of the cedi has been supported by positive market sentiments derived from the IMF’s disbursement of the first tranche of US$600 million under the Extended Credit Facility (ECF) arrangement in May 2023, as well as forex purchases from the mining and oil sectors and weakened demand.
The government’s debt service is not expected to significantly impact foreign investor holdings of four maturing domestic bonds in H2-23, as they constitute only 2 percent of the outstanding bonds. As a result, the cedi is expected to remain stable in H2-23, and the central bank aims to meet its US$120 million target for the Bulk Oil Distribution Companies (BDC) forex forward auction in Q3-23.
Despite the cedi’s impressive performance since February 2023, concerns remain about the vulnerability of the reserve buffer to shocks – with gross reserves (adjusted for petroleum funds and encumbered assets) estimated to cover only 0.8 months of imports by December 2023. This weak reserve cushion poses a threat to the local unit’s near-term outlook.
The upcoming maturity of the Aug-2023 Eurobond with a face value of US$148.76 million is expected to put significant strain on FX reserves and limit the central bank’s sell-side interventions.
In a period of increased volatility, though unlikely, the cedi could be subject to speculative attacks. Additionally, Saudi Arabia’s decision to reduce oil production by a million barrels daily could increase oil prices and Ghana’s import bills – exerting depreciating pressures on the cedi, as noted by Databank.
Despite these risks, the overall outlook for the cedi appears positive, with the expected funding and debt restructuring contributing to improved investor confidence and stability in the currency market.
The Ghana cedi fared well versus major trading currencies in the first half of the year, according to Finance Minister Ken Ofori-Atta.
He asserts that the Cedi has only fallen by 1.8% in the first half of 2023, despite having lost 20% of its value on average against major currencies during the previous two years.
He said that in order to keep the devaluation under control, the administration is focusing its efforts.
“Overall, first-quarter growth for 2023 was 4.2 percent, up from 3.0 percent recorded for the same period in 2022. This growth largely reflected an increase in the services sector which recorded a growth of 10.1 percent,” he said.
“Headline inflation eased in the first half of 2023. From the peak at 54.1 percent in December 2022, headline inflation gradually trended downwards from 53.6 percent in January 2023 to 42.5 percent in June 2023. The moderation in inflation was largely supported by monetary policy tightening, relative stability in the exchange rate and lower and stable ex-pump petroleum prices;”
“Cumulatively, the Ghana cedi depreciated by 22.1 percent against the US Dollar in the year to July 17, 2021, compared to 21.1 percent in the same period in 2022. The Cedi, excluding the January 2023 depreciation of 20%, has depreciated by an impressive 1.84% between February and July 17, 2023.”
Additionally, Mr. Ofori-Atta stated that “due to lower crude oil export receipts, total export receipts declined by 7.9 percent to US$8,178.56 million. Crude oil exports fell by 41.3% year over year as a result of volumes falling by 21.4% and prices falling by 25.3%;
“Current account recorded a provisional surplus of US$849.16 million (1.1% of GDP) compared with a deficit of US$1,111.87 million (1.5% of GDP) for the same period in 2022; and Gross International Reserves dropped from US$6.2 billion at the end of December 2023 to US$5.3 billion (2.5 months of import cover) in June 2023, reflecting BOG’s objectives of reducing their foreign liabilities in line with the IMF programme.”
“Net International Reserves received a boost from gold reserves and improved to US$2,353.95 million equivalent to 1.1 months of import cover, compared with US$1,440.00 million (0.6 months of import cover) recorded at the end of December 2022.”
Minority leader Dr Cassiel Ato Forson on Monday shared a jest to emphasise Ghana’s debt situation.
Addressing the media following the presentation of the 2023 Mid Year Budget Review by the Finance Minister, the Minority leader indicated that Ghana has defaulted its external debt.
According to him, Ghana has failed to pay the debt it owes to Euro bond holders and countries such as China, Saudi Arabia, India, UK, Japan, France, Czech Republic.
He noted that the list goes on and “I don’t know of Togo but it could be that we owe them.”
He attributed the stability of the cedi against the dollar to the external debt default.
“The Ghana cedi has stabilized relatively because we have defaulted in the payment of our external debt.
If you are to look into the budget, we should have serviced our external debt, approximately 11 billion Ghana cedi,” he noted.
While presenting the Mid-Year budget review, Finance Minister Ken Ofori-Atta noted that from February to July this year, the local currency has depreciated by “an impressive 1.84%”.
Cumulatively, the Ghana cedi depreciated by 22.1 percent against the US Dollar in the year to July 17, 2023.
This is in comparison to 21.1 percent depreciation recorded in the same period in 2022.
Statements from the Finance Minister indicates that in January 2023 alone, the cedi depreciated by 20 per cent.
Choosing to invest in numerous channels is a crucial choice. Savings are a good thing, but investments are more effective at helping you build wealth.
Here are five potential investment areas in Ghana. Choose one of the five or invest in all of them to diversify your portfolio.
The concept of saving and investment remains ambiguous in developing countries worldwide, including Ghana. Due to the prevalent high unemployment rates and meager salaries for many workers in the country, investing has become a privilege limited to only a fortunate few.
Nevertheless, there has been a recent surge in efforts to educate people about the advantages of investments, and this has led to a growing number of Ghanaians, particularly the youth, actively participating in investment opportunities.
During an exclusive interview with Pulse Ghana, Desmond Bredu, a Chartered Investment Professional, outlined five effective ways for individuals to invest their money in Ghana.
1. Fixed deposits
Also referred to as term deposits are quite straightforward as they employ the simple interest formula for calculating interest. What is important is a principal(amount you want to invest), a given interest rate, a defined period. Eg. you may walk to bank XYZ to buy a fixed deposit 1000ghs (principal) @ 14% for a year.
For fixed deposits, at the end of the period, you get the 140ghs as interest using the formula [(Principal x Time x Rate)/365]. Thus you’re given 1,140 on maturity ie. Principal plus interest. The actual day counts for fixed deposits are calendar year specific.
2. Mutual Funds
A mutual fund is a kind of investment that uses money from a pool of investors to invest in securities such as fixed deposits, equity, bills, bonds or other types of investment. A fund manager decides how to invest the money, and for this he is paid a fee, which comes from the money in the fund. One great thing about these investments is, it doesn’t matter your contribution, everyone in the fund enjoys the same return percentage-wise. Obviously,the money returns will be different if you have 20k in the fund as compared to someone with 5k but in percentage terms both will earn the same rate.
3. Shares
It is basically a unit ownership in a company. Thus, anyone who purchases becomes a part owner of the company and is entitled to certain rights- all completely public in a document called Prospectus.
4. Treasury Bills
Treasury bills/notes (T-Bills) are short term money market instruments issued by Bank of Ghana (BOG) on its own account or on behalf of the Government of Ghana (GOG). This is a common method used by governments to borrow money from citizens for development purposes.
The various types of bills/bonds listed on the Ghanaian money market are as follows: 91-day Treasury Bill 182-day Treasury Bill 1 and 2-Year Treasury Notes 3 and 5-Year Bonds
5. Bonds
A bond is a fixed-income instrument that represents a loan made by an investor to a borrower (typically corporate or governmental). A bond could be thought of as an I.O.U. between the lender and borrower which includes the details of the loan and its payments. Bonds are used by companies, municipalities, states, and sovereign governments to finance projects and operations.
Last week, the Ghana cedi demonstrated strength against the US dollar, benefiting from reduced demand pressure for the American currency.
Despite the Bank of Ghana injecting $1.3 million into the spot market, the local currency managed to gain 0.21% against the dollar, resulting in a year-to-date loss of just above 14%.
However, the cedi experienced marginal losses against the pound and the euro, depreciating by 0.33% and 0.79% week-on-week, respectively.
Looking ahead, there are expectations of an external debt restructuring before the first IMF review in September 2023, along with the Bank of Ghana’s final auction for Bulk Oil Distributors for the second quarter, scheduled for June 27, 2023. These factors are anticipated to influence the cedi’s performance in the near future.
Despite its robust showing last week, analysts predict a mixed performance for the local currency in the current week.
As of now, the cedi is trading at ¢11.70 to one US dollar at forex bureaus, while the Bank of Ghana’s rate stands at ¢10.99 for one dollar.
Bank of Ghana’s interbank exchange rates has shown that the Ghana Cedi is now trading against the dollar at a purchasing price of 10.9984 and a selling price of 11.0094 as of today, July 27, 2023.
The exchange rate f
Against the Pound Sterling, the Cedi is trading at a buying price of 14.2231 and a selling price of 14.2385.or the dollar at a forex bureau in Accra is 11.40 for buying and 11.70 for selling.
The exchange rate for buying and selling the pound sterling in Accra is 14.90 and 15.60, respectively.
The Euro is trading at a buying price of 12.1805 and a selling price of 12.1915.
At a forex bureau in Accra, the Euro is being bought at a rate of 12.40 and sold at a rate of 13.10.
The South African Rand is trading at a buying price of 0.6235 and a selling price of 0.6239.
At a forex bureau in Accra, the South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 70.7785 and a selling price of 70.8840.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 12.00 Naira for every 1 Cedi and sold at a rate of 18.00.
For the CFA, it is trading at a buying price of 53.8045 and a selling price of 53.8530.
At a forex bureau in Accra, CFA is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The Ghana Cedi is currently trading against the dollar at a purchasing price of 10.9979 and a selling price of 11.0089, according to the Bank of Ghana’s interbank exchange rates for Wednesday, July 26, 2023.
The exchange rate for the dollar at a forex office in Accra is 11.50 for buying and 11.75 for selling.
The Cedi is now trading with the Pound Sterling at a purchasing price of 14.1345 and a selling price of 14.1497.
The pound sterling is being purchased at a forex office in Accra for 15.00 and sold there for 15.60.
Euro is trading at a buying price of 12.1493 and a selling price of 12.1614.
At a forex bureau in Accra, the Euro is being bought at a rate of 12.50 and sold at a rate of 13.10.
The South African Rand is trading at a buying price of 0.6260 and a selling price of 0.6265.
At a forex bureau in Accra, the South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 71.7251 and a selling price of 71.8160.
At a forex bureau in Accra, the Nigerian Naira is being bought at a rate of 12.00 Naira for every 1 Cedi and sold at a rate of 18.00.
For the CFA Franc, it is trading at a buying price of 53.9376 and a selling price of 53.9913.
At a forex bureau in Accra, the CFA Franc is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The Interbank forex rates from the Bank of Ghana for July 20, 2023, indicate that the Ghana Cedi is trading against the US Dollar at a buying price of 10.9975 and a selling price of 11.0085.
At a Forex bureau in Accra, the US Dollar is being bought at a rate of 11.50 and sold at a rate of 11.75.
Against the Pound Sterling, the Cedi is trading at a buying price of 14.3847 and a selling price of 14.4002.
At a forex bureau in Accra, the Pound Sterling is being bought at a rate of 15.00 and sold at a rate of 15.60.
The Euro is trading at a buying price of 12.3570 and a selling price of 12.3681.
At a forex bureau in Accra, the Euro is being bought at a rate of 12.50 and sold at a rate of 13.10.
The South African Rand is trading at a buying price of 0.6160 and a selling price of 0.6166.
At a forex bureau in Accra, the South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 71.7504 and a selling price of 71.7677.
At a forex bureau in Accra, the Nigerian Naira is being bought at a rate of 12.00 Naira for every 1 Cedi and sold at a rate of 18.00.
For the CFA, it is trading at a buying price of 53.0362 and a selling price of 53.0838.
At a forex bureau in Accra, the CFA is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The Interbank forex rates from the Bank of Ghana today, July 19, 2023, have shown that the Ghana Cedi is trading against the dollar at a buying price of 10.9975 and a selling price of 11.0085.
At a Forex bureau in Accra, the dollar is being bought at a rate of 11.50 and sold at a rate of 11.75.
Against the Pound Sterling, the Cedi is trading at a buying price of 14.3847 and a selling price of 14.4002.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 15.00 and sold at a rate of 15.60.
The Euro is trading at a buying price of 12.3570 and a selling price of 12.3681.
At a forex bureau in Accra, the Euro is being bought at a rate of 12.50 and sold at a rate of 13.10.
The South African Rand is trading at a buying price of 0.6160 and a selling price of 0.6166.
At a forex bureau in Accra, the South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 71.7504 and a selling price of 71.7677.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 12.00 Naira for every 1 Cedi and sold at a rate of 18.00.
For the CFA, it is trading at a buying price of 53.0362 and a selling price of 53.0838.
At a forex bureau in Accra, CFA is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
The Bank of Ghana’s interbank exchange rates, has shown that the Ghana Cedi is now trading against the dollar at a purchasing price of 10.9970 and a selling price of 11.0080 as of today, July 18, 2023.
The exchange rate for buying and selling the dollar in Accra’s Forex bureau is 11.50 to 11.80.
Against the Pound Sterling, the Cedi is trading at a buying price of 14.3819 and a selling price of 14.3985.
At a forex bureau in Accra, the exchange rates for various currencies are as follows:
The pound sterling is being bought at a rate of 14.80 and sold at a rate of 15.50.
The Euro is trading at a buying price of 12.3556 and a selling price of 12.3677.
For the Euro at another forex bureau in Accra, it is being bought at a rate of 12.40 and sold at a rate of 13.00.
The South African Rand is currently trading at a buying price of 0.6103 and a selling price of 0.6108.
For the South African Rand at a different forex bureau in Accra, it is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 70.4204 and a selling price of 71.2756.
For the Nigerian Naira at another forex bureau in Accra, it is being bought at a rate of 13.00 Naira for every 1 Cedi and sold at a rate of 19.00.
The CFA Franc is currently trading at a buying price of 53.0379 and a selling price of 53.0899.
For the CFA Franc at a different forex bureau in Accra, it is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
Please note that these rates may vary at different forex bureaus and are subject to change.
Bank of Ghana’s interbank exchange rates, shows thatnthe Ghana Cedi is now trading against the dollar at a purchasing price of 10.9973 and a selling price of 11.0083 as of today, July 17, 2023.
The exchange rate for buying and selling the dollar in Accra at a Forex bureau is 11.50 to 11.90.
Against the Pound Sterling, the Cedi is trading at a buying price of 14.4263 and a selling price of 14.4418.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 14.80 and sold at a rate of 15.50.
The Euro is trading at a buying price of 12.3597 and a selling price of 12.3720.
At a forex bureau in Accra, the Euro is being bought at a rate of 12.40 and sold at a rate of 13.00.
The South African Rand is trading at a buying price of 0.6085 and a selling price of 0.6090.
At a forex bureau in Accra, the South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 70.1376 and a selling price of 70.2739.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 13.00 Naira for every 1 Cedi and sold at a rate of 19.00.
For the CFA, it is trading at a buying price of 53.0195 and a selling price of 53.0722.
At a forex bureau in Accra, CFA is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The chief executive officer of the Association of Oil Marketing Companies, has indicated that a significant number of OMCs are struggling to turn a profit as a result of the status of the economy.
“We had almost about 40% of them who were struggling such that month by month they were not making anything,” he said of the group at the beginning of the year.”
“They were only trying to survive to make sure that they just break even and others are even under the water now and they’re trying to struggle to come up,” he said this on JoyNews’ PM Express Business edition on July 14, 2023.
Agyemang Duah claimed that the country’s inflation and the depreciation of the cedi have had a severe impact on their pricing; but, due to the competitive nature of the oil market, OMCs are unable to increase or alter their margins as they see fit.
He claimed that this is just another element that impacts their profit margins.
“And you know in Ghana prices of goods and services are just rising just like that. And obviously for you to compete or be able to survive you need to up your scale in terms of the margin that you’d have to put on, but we’re not able to do that because it’s the market.
Duah continued, “The market is so competitive that if you decide to increase your margin, obviously it will affect your price, when you increase your price you’re out of the game. So, it’s really a tough hurdle that we have now,” he said.
The Ghana Cedi is currently trading against the dollar at a purchasing price of 10.9949 and a selling price of 11.0059, according to the Bank of Ghana’s interbank exchange rates for Wednesday, July 7, 2023.
The exchange rate for buying and selling the dollar in Accra’s Forex bureau is 11.50 to 11.80.
Against the Pound Sterling, the Cedi is trading at a buying price of 13.9679 and a selling price of 13.9830.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 14.70 and sold at a rate of 15.40.
The Euro is trading at a buying price of 11.9527 and a selling price of 11.9646.
At a forex bureau in Accra, the euro is being bought at a rate of 12.25 and sold at a rate of 12.85.
The South African Rand is trading at a buying price of 0.5758 and a selling price of 0.5760.
The South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90 at a forex bureau in Accra.
The buying and selling prices for the Nigerian Naira are respectively 68.1439 and 68.2375.
Nigerian Naira is being purchased and sold at a forex bureau in Accra at a rate of 13.00 Naira for every 1 Cedi.
The buying and selling prices for the CFA are respectively 54.8248 and 54.8794.
CFA is being purchased and sold at a forex bureau in Accra at a rate of 1 Cedi = 17.00 CFA and 1 Cedi = 21.00 CFA, respectively.
The cedi experienced a depreciation of approximately 11.21% against the US dollar in the first half of this year, according to Bloomberg.
The local currency cedi concluded the first half of this year with a stronger performance compared to the same period last year.
However, it was still categorized among African currencies with relatively weak returns.
On the interbank market, the Bank of Ghana reported a year-to-date depreciation of the cedi against the dollar of about 20%. Currently, in the retail market, the exchange rate stands at ¢11.68 to the dollar, while the Bank of Ghana (BoG) quotes it at ¢10.99.
Over the past three months, the cedi has exhibited a favorable performance against the US dollar.
Following the announcement of an approved International Monetary Fund (IMF) programme in the first quarter of 2023, the cedi has demonstrated resilience against the US dollar. The local currency has gained approximately 9% on the retail market since then.
However, some analysts argue that the local currency’s strength may be attributed to the suspension of principal and interest payments on external debt in December 2022.
Recent reports suggest that demand pressures for the US dollar have eased, which has been favorable for the cedi. This trend is expected to continue this week, assuming no major changes occur.
Meanwhile, according to Bloomberg, the Nigerian Naira is currently the worst-performing African currency this year. It has experienced a devaluation of around 39% against the US dollar. The Angola Kwanza and the Egyptian pound follow closely behind with year-to-date losses of 38.8% and 20%, respectively.
During the first quarter of 2023, the Bank of Ghana reported a depreciation of the cedi against the dollar at 22.1%.
According to Bloomberg, in 2022, the Ghanaian cedi experienced a depreciation of approximately 38.86% against the US dollar. This decline in value occurred amidst challenging economic conditions in Ghana.
On a global scale, the Ghanaian currency ranked 145th. The Sierra Leone Leone secured the 146th position, followed by the Argentina Peso and the Sri Lankan Rupee at 147th and 148th, respectively.
The Ghana Cedi is currently trading against the dollar at a purchasing price of 10.9827 and a selling price of 10.9937, according to the Bank of Ghana’s interbank exchange rates for Wednesday, June 23, 2023.
At a Forex bureau in Accra, the dollar is being bought at a rate of 11.50 and sold at a rate of 11.90.
Against the Pound Sterling, the Cedi is trading at a buying price of 13.9909 and a selling price of 14.0060.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 14.60 and sold at a rate of 15.40.
The Euro is trading at a buying price of 12.0352 and a selling price of 12.0461.
At a forex bureau in Accra, the euro is being bought at a rate of 12.40 and sold at a rate of 12.90.
The South African Rand is trading at a buying price of 0.5939 and a selling price of 0.5943.
At a forex bureau in Accra, the South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 68.4798 and a selling price of 68.6163.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 12.00 Naira for every 1 Cedi and sold at a rate of 19.00.
For the CFA, it is trading at a buying price of 54.4539 and a selling price of 54.5032.
At a forex bureau in Accra, CFA is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The Ghana Cedi is currently trading against the dollar at a purchasing price of 10.9822 and a selling price of 10.9932, according to the Bank of Ghana’s interbank exchange rates for Wednesday, June 22, 2023.
At a Forex bureau in Accra, the dollar is being bought at a rate of 11.50 and sold at a rate of 11.90.
Against the Pound Sterling, the Cedi is trading at a buying price of 14.0045 and a selling price of 14.0196.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 14.50 and sold at a rate of 15.25.
The Euro is trading at a buying price of 12.0427 and a selling price of 12.0537.
At a forex bureau in Accra, the euro is being bought at a rate of 12.30 and sold at a rate of 12.80.
The South African Rand is trading at a buying price of 0.5622 and a selling price of 0.5628.
At a forex bureau in Accra, the South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 64.6942 and a selling price of 64.8170.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 12.00 Naira for every 1 Cedi and sold at a rate of 19.00.
For the CFA, it is trading at a buying price of 54.4196 and a selling price of 54.4693.
At a forex bureau in Accra, CFA is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The Ghana Cedi is currently trading against the dollar at a purchasing price of 10.9822 and a selling price of 10.9932, according to the Bank of Ghana’s interbank exchange rates for Wednesday, June 21, 2023.
At a forex bureau in Accra, the dollar is being bought at a rate of 11.50 and sold at a rate of 11.90.
Against the Pound Sterling, the Cedi is trading at a buying price of 13.9880 and a selling price of 14.0031
At a forex bureau in Accra, the pound sterling is being bought at a rate of 14.50 and sold at a rate of 15.20.
The Euro is trading at a buying price of 11.9750 and a selling price of 11.9869.
At a forex bureau in Accra, Euro is being bought at a rate of 12.30 and sold at a rate of 12.80.
The South African Rand is trading at a buying price of 0.5622 and a selling price of 0.5628.
At a forex bureau in Accra, South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 64.3483 and a selling price of 64.4393.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 12.00 Naira for every 1 Cedi and sold at a rate of 19.00.
For the CFA, it is trading at a buying price of 54.7228 and a selling price of 54.7772.
At a forex bureau in Accra, CFA is being bought at a rate of 16.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The Ghana Cedi is currently trading against the dollar at a purchasing price of 10.9843 and a selling price of 10.9953, according to the Bank of Ghana’s interbank exchange rates for Wednesday, June 20, 2023.
At a forex bureau in Accra, the dollar is being bought at a rate of 11.50 and sold at a rate of 12.00.
Against the Pound Sterling, the Cedi is trading at a buying price of 14.0555 and a selling price of 14.0707.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 14.40 and sold at a rate of 15.10.
The Euro is trading at a buying price of 12.0020 and a selling price of 12.0129.
At a forex bureau in Accra, Euro is being bought at a rate of 12.40 and sold at a rate of 12.90.
The South African Rand is trading at a buying price of 0.6035 and a selling price of 0.6040.
At a forex bureau in Accra, South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 61.1003 and a selling price of 61.1913.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 12.00 Naira for every 1 Cedi and sold at a rate of 19.00.
For the CFA, it is trading at a buying price of 54.6044 and a selling price of 54.6540.
At a forex bureau in Accra, CFA is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The Ghana Cedi is currently trading against the dollar at a purchasing price of 10.9843 and a selling price of 10.9953, according to the Bank of Ghana’s interbank exchange rates for Wednesday, June 19, 2023.
At a forex bureau in Accra, the dollar is being bought at a rate of 11.50 and sold at a rate of 12.00.
Against the Pound Sterling, the Cedi is trading at a buying price of 14.0764 and a selling price of 14.0916.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 14.40 and sold at a rate of 15.10.
The Euro is trading at a buying price of 12.0014 and a selling price of 12.0133.
At a forex bureau in Accra, Euro is being bought at a rate of 12.40 and sold at a rate of 12.90.
The South African Rand is trading at a buying price of 0.6031 and a selling price of 0.6036.
At a forex bureau in Accra, South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 59.7827 and a selling price of 59.8737.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 12.00 Naira for every 1 Cedi and sold at a rate of 19.00.
For the CFA, it is trading at a buying price of 54.6026 and a selling price of 54.6567.
At a forex bureau in Accra, CFA is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Today, June 15, 2023, the Ghana Cedi is trading against the dollar at a purchasing price of 10.9780 and a selling price of 10.9890, according to the Bank of Ghana’s interbank exchange rates.
At a forex bureau in Accra, the dollar is being bought at a rate of 11.50 and sold at a rate of 11.90.
Against the Pound Sterling, the Cedi is trading at a buying price of 13.9355 and a selling price of 13.9505.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 14.40 and sold at a rate of 15.10.
The Euro is trading at a buying price of 11.9107 and a selling price of 11.9215.
At a forex bureau in Accra, Euro is being bought at a rate of 12.30 and sold at a rate of 12.80.
The South African Rand is trading at a buying price of 0.5996 and a selling price of 0.6001.
At a forex bureau in Accra, South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 42.3119 and a selling price of 42.4250.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 12.00 Naira for every 1 Cedi and sold at a rate of 19.00.
For the CFA, it is trading at a buying price of 55.7128 and a selling price of 55.7682.
At a forex bureau in Accra, CFA is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
In the retail sector last week, theGhana cedi appreciated by a favorable 0.43% versus the US dollar.
It traded at a mid-rate of ¢11.73 to one US dollar.
The local currency, however, depreciated against the pound and the euro respectively.
The year-to-date loss of the cedi to the American greenback hovered around 12%.
On the interbank market, the local currency has, however, depreciated by about 20% to the US dollar. It is currently selling at ¢10.98 to one dollar.
Rating agency, Fitch, upgraded Ghana’s Local Currency (LC) on June 6, 2023, from Ca to Caa3.
Additionally, the rating agency maintained a stable outlook on the local currency, expecting that a successful foreign currency restructuring and a continued disbursement from the International Monetary Fund would lead to further LC upgrades.
Analysts believe the local currency upgrade will improve investor sentiment and strengthen the cedi against the dollar this week as the market reacts favourably to the LC upgrade.
Bank of Ghana’s interbank exchange rates has it that the Ghana Cedi is now trading against the dollar at a purchasing price of 10.9654 and a selling price of 10.9764 as of today, June 14, 2023.
At a forex bureau in Accra, the dollar is being bought at a rate of 11.50 and sold at a rate of 11.80.
Against the Pound Sterling, the Cedi is trading at a buying price of 13.8456 and a selling price of 13.8617.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 14.35 and sold at a rate of 14.95.
The Euro is trading at a buying price of 11.8491 and a selling price of 11.8550.
At a forex bureau in Accra, Euro is being bought at a rate of 12.20 and sold at a rate of 12.80.
The South African Rand is trading at a buying price of 0.5911 and a selling price of 0.5917.
At a forex bureau in Accra, South African Rand is being bought at a rate of 0.30 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 42.9206 and a selling price of 42.0299.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 12.00 Naira for every 1 Cedi and sold at a rate of 19.00.
For the CFA, it is trading at a buying price of 55.7128 and a selling price of 55.7682.
At a forex bureau in Accra, CFA is being bought at a rate of 17.00 CFA for every 1 Cedi and sold at a rate of 21.00 CFA for every 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
