Ghanaian Cedi Endures Modest Uptrade as Forex Rates Rise
The Ghanaian Cedi strengthened against the US dollar on Thursday, October 15, maintaining a premium relative to Wednesday’s performance.
Averaging a buying rate of GHS 11.87—only two pesewas higher—and a selling point of GHS 12.18—three pesewas above Wednesday’s level—traded across major forex bureaus.
Trading locally, the cedi faces pressure at GHS 12.00 for USD purchases and peaks at GHS 12.30 during sales.
Meanwhile, the Bank of Ghana interbank rate sees the currency hovering around GHS 11.67 for buy transactions and GHS 11.68 for sales.
The euro fluctuates between GHS 13.05 for acquisitions and GHS 13.89 for exits at bureaus, climbing to GHS 12.99 in the interbank arena.
The British pound trades at GHS 15.36 in its domestic remit while forex offices list the buying side at GHS 15.50 and selling at GHS 16.28.
Payment channels remain competitive: LemFi and Taptap Send align GBP rates at GHS 15.36, whereas digital subscriptions like Netflix and Spotify command higher fees of GHS 12.55 and GHS 12.57 respectively.
