Reports indicate that the cedi is currently selling above GH¢16 for the first time since November 2024.
According to cedirates.com, one would now need approximately GH¢16,200 to purchase $1,000 at some forex bureaus.
Ghana's local currency, the cedi, experienced marginal gains against major trading currencies, particularly the dollar, at some forex bureaus from October 2024.
However the Central Bank, in its daily update, noted that as of 8:00 AM on January 14, 2025, the cedi was trading at a buying price of GH¢14.79 and a selling price of GH¢14.80.
The British pound is being bought at GH¢17.99 and sold at GH¢18.01, while the euro is trading at a buying price of GH¢15.10 and a selling price of GH¢15.12.
Checks by GhanaWeb Business at 8:20 AM on January 14, 2025, revealed that the cedi was trading at GH¢15.85 to the dollar, while the pound was trading at GH¢19.70 at some major forex bureaus across the country.
Additionally, the euro is trading at GH¢16.60 on the retail market.
In an effort to curb the depreciation of the cedi, the Bank of Ghana sold over $200 million during the last quarter of 2024.
BREAKING: $1 has crossed 16 cedis for the first time in 2025.
— CediRates (@CediRates) January 14, 2025
You need ₵16,200 to get $1,000 now at forex bureaus. Contact forex bureaus using the link in replies. pic.twitter.com/rasAkRTJCm
SSD/MA
Betting tax will be abolished as President Mahama promised – Ato Forson
