The Ghanaian cedi has depreciated against the US dollar in both the buying and selling rates, declining by 1 pesewa in buying value and by 2 pesewas in selling value.
The buying rate is now GHS14.32, while the selling rate is also being offered at GHS14.93 on Monday, May 27, 2024.
This is based on data provided by Cedirates.com, a well-known Ghanaian website for currency and fuel updates.
The Cedi is trading at GHS13.94 on purchasing rate and GHS13.96 selling price at interbank rates against the US dollar.
Some currency bureaus, namely AfriSwap and Perebrim, are currently purchasing for GHS14.80 and GHS14.90, respectively, and selling at GHS15 and GHS15.30.
In comparison to the rates on Saturday, the British Pound Sterling increased by 5 pesewas in value on the buying rate and by 4 pesewas on the selling rate against the Cedi.
The buying and selling rates of the British Pound Sterling are, on average, GHS18.05 and GHS18.90, respectively.
The Euro has increased in value by 2 pesewas on the buying rate and by 3 pesewas on the selling rate against the cedi.
The purchasing and selling rates for the euro are GHS15.34 and GHS16.11, respectively.
The selling price of the pound sterling on the Bank of Ghana interbank market is GHS17.79, unchanged from the previous rate.
The euro is currently selling at GHS15.14 on the interbank market, unchanged from the previous rate.
Through LemFi and Afriex, people can send money to Ghana from the US or the UK at GHS14.20 and GHS14.50 respectively, for each dollar.
The two money transfer sites are offering buying and selling rates of GHS18.10 and GHS18.52 for the British Pound, respectively.
The only one of the two that updated euro rates on Monday, Afriex, is selling GHS15.62 for €1.
For those who will be renewing their Netflix, Spotify or Apple Music subscriptions through Visa and Mastercard, both payment processors are offering a US dollar for GHS15.69 and GHS15.78, respectively.
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Comments
Some of us suspect Dr. Joseph Obeng is a closet NDC member. Otherwise, why would he accuse the Chinese of taking over Ghanaian businesses? If the Ghana currency is depreciating, ask yourself what manufactured products the country sells or exports to the 1.5 billion consumers on the continent. Can the country remain heavily import-dependent and still have a stable foreign exchange rate? Why do we have a trade deficit? How is our current account? What is the status of our productivity? What are o...