The Ghanaian cedi has gained marginal value against major currencies, currently trading at GH¢16.10 to the dollar. The Central Bank reports that the cedi’s buying and selling prices are GH¢15.53 and GH¢15.54 respectively. The pound and euro are also monitored, with trading rates of GH¢20.90 and GH¢17.60, respectively. The Bank of Ghana’s intervention includes a sale of over $200 million to stabilize the currency.
The Ghanaian cedi has experienced slight appreciation against key currencies, notably the US dollar, at selected forex bureaus. According to the Central Bank’s latest update, the cedi is positioned at a buying price of GH¢15.53 and a selling price of GH¢15.54 for one dollar.
As of March 13, 2025, the cedi is trading at GH¢16.10 against the dollar in certain bureaus, while the British pound is valued at GH¢20.90, and the euro is trading at GH¢17.60 in the retail market. This reflects an increase from GH¢15.90 to GH¢16.10 against the dollar nearby.
The Bank of Ghana intervened to stabilize the cedi, having sold over $200 million in the final quarter of 2024 to mitigate its depreciation. Further monitoring of currency rates is ongoing amidst discussions surrounding economic stability in the region.
In summary, the Ghanaian cedi has seen modest gains against major currencies, with current trading rates indicating a stronger performance against the US dollar. Interventions by the Bank of Ghana appear to be effective in stabilizing the currency amidst fluctuating market conditions. Continuous observation of these currency movements is necessary for stakeholders.
Original Source: www.ghanaweb.com
