February 3: $1 trades at GHS15.90 at Forex Bureaus, GHS15.67 average rate

The Ghanaian cedi has depreciated against the United States dollar, with GHS15.20 buying rate per dollar and the selling rate at GHS15.67 for those converting cedis to dollars as of Monday, February 3, 2025.

This marks 4 pesewas and 7 pesewas drop in the buying rate and selling rates respectively, compared to Friday’s averages.

At Forex Bureaus, the cedi is trading at GHS15.45 for those exchanging cedis for dollars and GHS15.90 for those converting dollars to cedis.

This data is sourced from Cedirates.com, a reputable Ghanaian platform for currency and fuel updates.

On the interbank market, the cedi is trading at GHS15.29 for buying dollars and GHS15.31 for selling dollars.

For the British Pound, the average exchange rates are GHS18.72 for converting pounds to cedis and GHS19.39 for converting pounds to cedis. Meanwhile, the Euro is trading at GHS15.57 for exchanging euros for cedis and GHS16.22 for exchanging cedis for euros.

On the Bank of Ghana interbank market, the Pound is selling at GHS19.01, and the Euro is trading at GHS15.91.

For money transfers, LemFi and Afriex are offering rates of GHS15.25 per dollar each for transfers from the US or the UK to Ghana.

For the British Pound, LemFi and Afriex provide rates of GHS19.00 and GHS19.34, respectively. For the Euro, Afriex offers GHS15.89, while LemFi rates also stand at GHS15.65 per €1.

For digital subscription payments such as Netflix, Spotify, or Apple Music using Visa and Mastercard, the exchange rates are GHS16.48 and 16.42 respectively.

Experts say that the GBP and EUR are dropping at banks, likely because of Trump’s policies against other countries like Canada, Mexico, and China, which are strengthening the US dollar.