The Ghanaian cedi has depreciated against the United States dollar, with the buying rate at GHS15.01 for every dollar exchanged, and the selling rate at GHS15.49 for those converting cedis to dollars on Wednesday, January 22, 2025.
This marks 5 pesewas and 8 pesewas drop in the buying rate and selling rates respectively, compared to Tuesday’s averages.
At forex bureaus, the cedi is trading at GHS15.75 for those exchanging cedis for dollars, and GHS16.20 for those converting dollars to cedis.
This data is based on figures from Cedirates.com, a well-known Ghanaian website for currency and fuel updates.
On the interbank market, the cedi is trading at GHS15.01 for those exchanging cedis for dollars and GHS15.03 for those converting dollars to cedis.
For the British Pound, the average exchange rates are GHS18.38 for converting cedis to pounds and GHS19.06 for converting pounds to cedis, while the Euro is trading at GHS15.46 for exchanging cedis for euros and GHS16.12 for exchanging euros for cedis.
On the Bank of Ghana interbank market, the selling rate for the Pound is GHS18.45, and the Euro is selling at GHS15.61.
For money transfers, LemFi and Afriex offer rates of GHS15.04 and GHS15.00 per dollar, respectively, for transfers from the US or the UK to Ghana.
For the British Pound, LemFi and Afriex are offering exchange rates of GHS18.44 and GHS19.41, respectively, for converting cedis to pounds.
Afriex’s rate for the Euro is GHS15.63, while LemFi offers GHS15.55 per €1.
For those renewing their Netflix, Spotify, or Apple Music subscriptions through Visa and Mastercard, the processors are offering rates of GHS16.16 and GHS16.21 per US dollar, respectively.
Comments
Ghanaians will feel the nostalgia of the first term of President Akuffo Addo's government when the dollar and the inflation were at the lowest ebb. When Nana Addo's government was exiting on the 7th January 2025, the inter bank dollar rate was 14.75. Currently, the inter bank dollar rate is 15.75 whilst the forex rate is around 16.75 whilst the road side (Tudu) rate is hovering around 17.20. Ghanaians will soon see their smoothness level. Now this writer is suggesting considering offering gold i...