Ghana cedi to dollar rate today: Latest BoG rates for September 16
Cedi weakens slightly against the US dollar, pound sterling and euro based on the latest BoG rates.
Dollar selling rate rose to GH¢11.4881, while the pound and euro increased to GH¢15.4826 and GH¢13.2590, respectively.
The movements were marginal, indicating no significant shift in the foreign exchange market.
The US dollar recorded the biggest movement among the three currencies. Its selling rate increased to GH¢11.4881, up from GH¢11.4672 in the previous rate, representing a 0.18% rise. The buying rate stood at GH¢11.4767, while the mid-rate was GH¢11.4824.
For the pound sterling, the selling rate rose to GH¢15.4826, compared with GH¢15.4690 previously, representing an increase of approximately 0.09%. The buying rate was GH¢15.4659, with a mid-rate of GH¢15.4743.
The euro also gained slightly against the cedi, with its selling rate moving from GH¢13.2429 to GH¢13.2590, an increase of about 0.12%. Its buying rate stood at GH¢13.2459, while the mid-rate was GH¢13.2525.
Overall, the latest figures point to a modest depreciation of the cedi across the three major currencies, with the dollar recording the largest percentage increase in its selling rate.
The BoG's daily reference rates are calculated using foreign exchange transaction data submitted by banks. The data covers spot US dollar-to-cedi transactions completed before 3:30 pm, including qualifying transactions on the interbank market and between banks and their clients.
The information is used to determine the weighted median exchange rate published as the day's closing reference rate.
However, the BoG rates serve as reference figures and may differ from the actual rates offered by individual banks and foreign exchange providers, depending on market conditions and the nature of the transaction.