Ghana cedi gains vs dollar, pound & euro: Latest BoG exchange rates
Cedi gains against the dollar, pound and euro.
Pound records the biggest decline to GH¢15.4647.
October 28 rates fall from the previous day’s levels.
The average interbank rate for the US dollar stood at GH¢11.6258 on Wednesday, October 28, down from GH¢11.6600 on Tuesday, October 27. The latest figures indicate that the cedi gained ground against the dollar during the period covered by the available data.
The movement represents a decline of GH¢0.0342, or approximately 0.29%, meaning the dollar cost fewer cedis at the interbank level.
The pound sterling recorded a steeper fall, dropping from GH¢15.5283 to GH¢15.4647. This translates into a decrease of GH¢0.0636, equivalent to about 0.41%.
The euro also weakened against the cedi, with its average rate declining from GH¢12.9938 on Tuesday to GH¢12.9455 on Wednesday. The reduction of GH¢0.0483 represents a fall of approximately 0.37%.
The figures indicate that the cedi strengthened against all three currencies over the one-day period, with the pound recording the largest percentage decline, followed by the euro and the dollar.
The changes could affect the cedi equivalent of payments for imported goods, overseas purchases, tuition fees and other foreign-currency obligations. However, the interbank rates do not necessarily reflect the exact prices individuals will receive when buying or selling foreign currencies.
The Bank of Ghana’s daily reference rate is calculated using transaction data submitted by banks, including eligible interbank transactions and certain transactions with their clients. The published closing rate uses a weighted median intended to reflect prevailing market conditions.
Commercial banks and forex bureaux may apply different buying and selling rates, so customers should confirm the rates available to them before completing transactions.
Latest BoG exchange rates:
Currency | Latest rate | Previous rate | Change |
|---|---|---|---|
US dollar | GH¢11.6258 | GH¢11.6600 | -GH¢0.0342 |
Pound sterling | GH¢15.4647 | GH¢15.5283 | -GH¢0.0636 |
Euro | GH¢12.9455 | GH¢12.9938 | -GH¢0.0483 |