BoG posts interbank exchange rate for first time in 6 months, $1 selling at GH¢16.35

Cedi notes

For the first time in six months, the Bank of Ghana has posted interbank forex exchange rates, following its directive earlier this year requiring forex bureaus to stop posting exchange rates publicly.

The Central Bank’s rates reflect the average interbank rates used by commercial banks for transactions as of the close of business on November 8, 2024.

In April, the Central Bank set a rate of GH¢13.01 per dollar for Oil Marketing Commercial Banks and certain direct buyers from the Bank of Ghana. However, as per the new rates posted today, November 11, 2024, $1 is now bought at GH¢16.34 and sold at GH¢16.35.

For other major currencies, the British Pound is bought at GH¢21.07 and sold at GH¢21.10, while the Euro is bought at GH¢17.49 and sold at GH¢17.51.

These official rates remain unavailable to the general public.

A check by GhanaWeb Business at major forex bureaus revealed that as of 10:00 a.m. on November 11, 2024, the cedi is trading at GH¢17.30 to the dollar, while the British Pound is trading at GH¢21.78.

The Euro is selling at GH¢18.17.

See the BoG's post below