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Tuesday: Cedi slips against dollar on major money transfer services, BoG interbank by 1 pesewa

CediRates Spotlight Tuesday: Cedi slips against dollar on major money transfer services, BoG interbank by 1 pesewa
NOV 28, 2023 LISTEN

The cedi depreciated against the US dollar on some leading money transfer platforms, according to data released by CediRates.com on Tuesday, November 28.

The local currency dipped by 1 pesewa on popular money transfer operators Western Union and Revolut, trading at GH¢11.82 per dollar compared to yesterday's GH¢11.81 per dollar.

Other major remittance firms Remitly and Sendwave also recorded a 1 pesewa depreciation, with the cedi going for GH¢11.53 versus the greenback compared to Monday's GH¢11.52.

The same applied to WorldRemit which also pegged its Cedi to dollar rate at GH¢11.51, a pesewa higher than Monday’s GH¢11.50.

On digital currency exchanges, the local currency dropped marginally.

Popular platforms CediConvert and WeWire Africa both saw a 1 pesewa decline, with the cedi trading at GH¢12.26 and GH¢12.29 per dollar respectively.

Adding on to the drop on key money transfer platforms, the Ghana cedi again saw a 1 pesewa depreciation against the dollar at the Bank of Ghana's benchmark interbank rate, now selling at GH¢11.59 compared to the previous day’s GH¢11.58.

Isaac Donkor Distinguished
Isaac Donkor Distinguished

News ReporterPage: IsaacDonkorDistinguished

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