Ghana cedi gains against 3 major currencies: Latest BoG rates for Oct 14

• The dollar’s buying and selling rates each fell by GH¢0.0641.

• The pound’s buying rate dropped by GH¢0.0342, while its selling rate declined by GH¢0.0344.

• The euro’s buying and selling rates each fell by GH¢0.0301.

The latest interbank rates show the US dollar at GH¢11.7000 for buying and GH¢11.7118 for selling, down from GH¢11.7641 and GH¢11.7759, respectively. Both rates have declined by GH¢0.0641.

The dollar’s average rate is now GH¢11.7059, reflecting a decrease from the previous reference figures. The movement means buyers require fewer cedis to purchase the US currency at the stated rates.

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The pound sterling has also fallen against the cedi. Its latest buying rate is GH¢15.4991, compared with GH¢15.5333 previously, representing a decrease of GH¢0.0342. The selling rate has dropped from GH¢15.5501 to GH¢15.5157, a reduction of GH¢0.0344. The pound’s latest average rate stands at GH¢15.5074.

The euro has recorded a similar decline. Its buying rate has fallen from GH¢13.1260 to GH¢13.0959, while the selling rate has decreased from GH¢13.1390 to GH¢13.1089. Both rates are down by GH¢0.0301. The euro’s latest average interbank rate is GH¢13.1024.

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Among the three currencies, the US dollar recorded the largest decline in the buying and selling rates, followed by the pound sterling and the euro.

The latest movements could offer some relief to individuals and businesses that need foreign currency to pay for imports, international services, tuition fees and other overseas expenses. However, the extent to which these changes affect the prices of goods and services will depend on other costs, including shipping, taxes and distribution expenses.

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The figures represent average interbank rates used by commercial banks for transactions. Actual rates offered to customers may differ depending on the bank, foreign exchange provider and applicable charges.