February 11, 2025

Cedi Exchange Rate: GHS15.80 to $1 on Forex Bureaus, GHS15.16 Average as of January 11

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Ghanaian cedi in the black wallet

Ghanaian money - cedi in the black wallet

As of January 11, 2025, the Ghanaian cedi has experienced slight fluctuations in its exchange rates against the United States dollar, with notable changes in both the buying and selling rates. The buying rate has dipped by 1 pesewa, while the selling rate has appreciated by 4 pesewas when compared to the previous day’s rates.

At 10:00 AM on Saturday, January 11, the buying rate stood at GHS14.68, while the selling rate was pegged at GHS15.16. At the forex bureaus, the rates were slightly higher, with the buying rate at GHS15.40 and the selling rate at GHS15.80. This information is based on real-time data provided by Cedirates.com, a reliable Ghanaian website that offers updates on currency and fuel rates in the country.

In the interbank market, the exchange rate for the cedi stands at GHS14.74 for buying and GHS14.76 for selling against the US dollar, showing a narrow margin between the rates.

When looking at other major currencies, the exchange rates for the British Pound Sterling and the Euro also demonstrate some fluctuations. On average, the buying and selling rates for the British Pound are GHS17.90 and GHS18.66, respectively. For the Euro, the rates are GHS14.95 for buying and GHS15.64 for selling on average, showing the ongoing movement in foreign currency exchanges.

In the Bank of Ghana’s interbank market, the Pound Sterling is currently priced at GHS18.00 for selling, while the Euro is being traded at GHS15.09 per unit. These rates reflect official figures from the central bank’s market operations.

For those engaging in international money transfers, several services are providing competitive exchange rates for sending money to Ghana. Two prominent platforms, LemFi and Afriex, have been offering attractive rates for people sending funds from the US and UK to Ghana. Specifically, LemFi is offering a rate of GHS14.70 per US dollar, while Afriex provides GHS14.95 per dollar. For those transferring British Pounds, LemFi offers GHS18.10 for buying and GHS18.75 for selling, while Afriex matches the rates of GHS18.10 and GHS18.75 for both buying and selling.

Regarding the Euro, Afriex’s exchange rate is GHS15.58 for purchasing, while LemFi offers GHS15.20 per Euro for transfers. These platforms are providing convenient options for Ghanaians in the diaspora to send money back home with favorable exchange rates.

Additionally, individuals who are renewing their international subscriptions, such as Netflix, Spotify, or Apple Music, using Visa and Mastercard will find that the US dollar transactions are being processed at a rate of GHS15.84 per dollar. This rate reflects the cost of conducting international payments and highlights the variation in exchange rates for different types of transactions.

These fluctuating exchange rates are reflective of the ongoing dynamics in Ghana’s foreign exchange market, which is influenced by factors such as global economic conditions, inflation rates, and domestic policy changes. As the cedi continues to experience variations in its value against the US dollar and other foreign currencies, it underscores the importance for businesses and individuals to stay informed about the latest market trends.

With Ghana’s growing reliance on foreign exchange for trade, remittances, and international payments, monitoring the cedi’s value remains crucial. The differences between interbank rates, forex bureau rates, and money transfer services highlight the range of options available to people, depending on their specific needs and the timing of their transactions.

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