Ghana cedi to dollar rate: Latest BoG rates for September 10

• The cedi weakened against the dollar, pound and euro in the latest BoG rates.

• The dollar rose to GH¢11.4343, while the pound and euro also gained.

• The latest figures show continued pressure on the cedi.

The latest figures show that the three major international currencies have all gained ground against the cedi, extending the upward movement recorded in the previous session. The rates are based on the average interbank rates used by commercial banks at the close of business on Wednesday, September 9.

The US dollar is quoted at a buying rate of GH¢11.4343 and a selling rate of GH¢11.4457. This represents an increase of GH¢0.0200 on both the buying and selling rates compared with Wednesday's GH¢11.4143 and GH¢11.4257 respectively.

Also Read: Ghana cedi to dollar rate: Latest BoG rates for September 1

The movement means the dollar has continued to become more expensive in cedi terms, indicating renewed pressure on the local currency. On Wednesday, the dollar had already risen by GH¢0.0250 on both rates compared with Tuesday's figures.

The British pound has recorded a more pronounced increase. The pound is now trading at GH¢15.4900 for buying and GH¢15.5067 for selling, compared with GH¢15.4561 and GH¢15.4716 respectively on Wednesday.

This represents a gain of GH¢0.0339 on the buying rate and GH¢0.0351 on the selling rate. The latest movement puts the pound above the GH¢15.50 mark on the selling side for the first time in the current sequence of daily rates.

Also Read: Ghana cedi to dollar rate: Latest BoG rates for September 7

The euro has also strengthened against the cedi. Its buying rate has increased to GH¢13.3007 from GH¢13.2716, while the selling rate has risen to GH¢13.3127 from GH¢13.2826.

The euro therefore gained GH¢0.0291 on the buying rate and GH¢0.0301 on the selling rate compared with the previous day's rates.

Also Read: Ghana cedi to dollar rate: Latest BoG rates for Sept 4

The latest figures mean individuals and businesses requiring dollars, pounds or euros will need slightly more cedis to purchase the same amount of foreign currency.