Ghana’s Cedi Marginally Increases Against the Dollar

Ghana’s cedi has recorded slight gains against the US dollar, trading at GH¢16.10. The Central Bank notes buying and selling prices at GH¢15.53 and GH¢15.54. Additionally, the British pound is at GH¢20.14, and the euro at GH¢16.93. The Bank of Ghana sold over $200 million to stabilize the currency’s value.

Recently, the Ghanaian currency, the cedi, has experienced a slight increase in its value against major currencies, particularly the US dollar. As of March 13, 2025, the cedi is reported to be trading at GH¢16.10 to the dollar at various forex bureaus across the country.

According to updates from the Central Bank, the cedi has a buying price of GH¢15.53 and a selling price of GH¢15.54 to the US dollar. Furthermore, it is noteworthy that the British pound is being bought at GH¢20.14 and sold at GH¢20.16, while the euro is trading at a buying price of GH¢16.93 and a selling price of GH¢16.95.

In a broader market overview, at 08:00 AM on the same day, it was noted that the cedi reached a trading value of GH¢16.10 against the dollar at major forex bureaus, while the pound was trading at GH¢20.90. The euro’s value has also increased, now trading at GH¢17.60 on the retail market.

In an effort to stabilize the currency, the Bank of Ghana took measures to curb the depreciation of the cedi, including the sale of over $200 million in the last quarter of 2024. This step is part of ongoing initiatives to enhance the strength of Ghana’s currency in the foreign exchange market.

In conclusion, the cedi has recently shown marginal improvements against the US dollar, trading at GH¢16.10, assisted by actions from the Bank of Ghana to stabilize the currency. The exchange rates for the British pound and euro, which are GH¢20.14 and GH¢16.93 respectively, reflect ongoing fluctuations in the forex market. These adjustments underscore Ghana’s financial efforts to bolster the cedi amid persistent economic challenges.

Original Source: www.ghanaweb.com