Ghana cedi depreciates against Dollar, Euro, and British Pound

• The dollar's buying and selling rates increased by GH¢0.0500 each.

• The pound recorded the largest rise, with its buying rate reaching GH¢15.6720.

• The euro's buying rate climbed to GH¢13.0883, while its selling rate rose to GH¢13.1013.

The central bank's figures show that the dollar's buying rate increased from GH¢11.6342 on Monday, November 9, to GH¢11.6842, representing a rise of GH¢0.0500. Its selling rate also moved up from GH¢11.6458 to GH¢11.6958.

The British pound recorded an even larger increase. Its buying rate rose from GH¢15.5421 to GH¢15.6720, an increase of GH¢0.1299. The selling rate climbed from GH¢15.5588 to GH¢15.6888, representing a rise of GH¢0.1300.

The euro also strengthened against the cedi, with its buying rate increasing from GH¢12.9701 to GH¢13.0883. This represents an increase of GH¢0.1182.

Its selling rate moved from GH¢12.9819 to GH¢13.1013, marking a rise of GH¢0.1194.

The movements indicate that the cedi weakened against all three major currencies, with the pound recording the largest increase in both buying and selling rates, followed by the euro and the US dollar.

Also Read: Ghana cedi under pressure: Latest BoG exchange rates for November 3

The latest figures are based on average interbank exchange rates used by commercial banks for transactions at the close of business on Monday, November 9.

The Bank of Ghana's published rates serve as a reference for foreign exchange transactions, although the actual rates offered by commercial banks and forex bureaux may vary.