CEDI

Cedi Drops To GH¢15.90 To 1 Dollar At Forex Bureaus
29 Jan

Cedi Drops To GH¢15.90 To 1 Dollar At Forex Bureaus

CUD Wontumi0 CommentsBusiness,
Ghana's local currency, the cedi, has experienced marginal gains against major trading currencies, especially the dollar, at some forex bureaus. The Central Bank, in its daily update, noted that the cedi is trading at a buying price of GH¢15.24 and selling at GH¢15.25. The British Pound is being bought at GH¢18.94 and sold at GH¢18.96. The Euro trades at a buying price of GH¢15.88 and a selling price of GH¢15.90. Checks by GhanaWeb Business on January 29, 2025, at 8:20 AM show that the cedi is trading at GH¢15.90 to the dollar, while the pound is trading at GH¢19.70 at…
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Cedi Now Sells At GH¢16.10 At Forex Bureaus
24 Jan

Cedi Now Sells At GH¢16.10 At Forex Bureaus

CUD Wontumi0 CommentsBusiness,
Ghana's local currency, the cedi, has experienced marginal gains against major trading currencies, especially the dollar, at some forex bureaus. The Central Bank, in its daily update, noted that the cedi is trading at a buying price of GH¢15.11 and selling at GH¢15.12. The British Pound is being bought at GH¢18.62 and sold at GH¢18.64. The Euro trades at a buying price of GH¢15.72 and a selling price of GH¢15.73. Checks by GhanaWeb Business on January 24, 2025, at 8:40 AM show that the cedi is trading at GH¢16.10 to the dollar, while the pound is trading at GH¢19.60 at some major…
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Cedi Selling At GH¢16.20 At Forex Bureaus
21 Jan

Cedi Selling At GH¢16.20 At Forex Bureaus

CUD Wontumi0 CommentsBusiness,
Ghana's local currency, the cedi, has experienced marginal gains against major trading currencies, especially the dollar, at some forex bureaus. The Central Bank, in its daily update, noted that the cedi is trading at a buying price of GH¢14.99 and selling at GH¢15.00. The British Pound is being bought at GH¢18.42 and sold at GH¢18.45. The Euro trades at a buying price of GH¢15.58 and a selling price of GH¢15.60. Checks by GhanaWeb Business on January 21, 2025, at 8:40 AM show that the cedi is trading at GH¢16.20 to the dollar, while the pound is trading at GH¢19.60 at some major…
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BoG Rates Drop Slightly, Cedi Sells At GH¢15.85 At Forex Bureaus
13 Jan

BoG Rates Drop Slightly, Cedi Sells At GH¢15.85 At Forex Bureaus

CUD Wontumi0 CommentsBusiness,
Ghana's local currency, the cedi, has experienced marginal gains against major trading currencies, especially the dollar, at some forex bureaus. The Central Bank, in its daily update, noted that the cedi is trading at a buying price of GH¢14.74 and selling at GH¢14.75. The British Pound is being bought at GH¢17.98 and sold at GH¢17.99. The Euro trades at a buying price of GH¢15.08 and a selling price of GH¢15.09. Checks by GhanaWeb Business on January 13, 2025, at 8:00 AM show that the cedi is trading at GH¢15.85 to the dollar, while the pound is trading at GH¢19.70 at some major…
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Cedi To Close Year Stable
11 Dec

Cedi To Close Year Stable

wontumionlineBusiness,
The Ghanaian cedi is expected to remain stable, driven by an influx of foreign exchange from increased tourism, recent IMF disbursements, and the conclusion of peaceful general elections. Over the past month, the cedi has gained against major trading currencies, supported by the Bank of Ghana's (BoG) interventions, including injecting $240.4 million into the FX market. The IMF’s approval of the third review of its Extended Credit Facility (ECF) and the disbursement of $360 million further boosted investor confidence. Additionally, the anticipated arrival of two million tourists in 2024, generating over $3 billion in revenue, is projected to enhance FX…
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Cedi Rate Shoots Up, Selling At GH¢17.20 To US$1
05 Nov

Cedi Rate Shoots Up, Selling At GH¢17.20 To US$1

wontumionlineBusiness,
Ghana’s local currency continues to experience persistent depreciation against major trading currencies such as the US dollar. The cedi which was under pressure throughout the year, recorded relative stability in July this year, while inflationary pressures continued declining. However, checks by GhanaWeb Business as of November 5, 2024, at 8:00 AM show that the cedi is trading at GH¢17.20 to the dollar, while the pound is trading at GH¢22 at some major forex bureaus across the country. Additionally, the Euro is trading at GH¢18.50 on the retail market. The decline of the cedi against major trading currencies will further worsen the woes…
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BoG Assures Of Cedi’s Resilience Amid Rising FX Demand
04 Nov

BoG Assures Of Cedi’s Resilience Amid Rising FX Demand

wontumionlineBusiness, ,
The Bank of Ghana (BoG) has assured that it is implementing proactive measures to strengthen its foreign reserves in response to the ongoing depreciation of the cedi against major currencies. With the festive season approaching, the Central Bank is preparing for an anticipated increase in foreign exchange demand, a strategic initiative designed to stabilize the local currency. Currently, the cedi is trading at nearly GH¢17 to one U.S. dollar, reflecting a considerable year-to-date depreciation of 24.3 percent. In light of these pressures, the Bank aims to reassure businesses and consumers by working towards greater stability in the cedi through enhanced reserves. Speaking…
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Cedi Will Appreciate Soon With Sufficient Buffers – BoG Governor
01 Nov

Cedi Will Appreciate Soon With Sufficient Buffers – BoG Governor

wontumionlineBusiness,
The Bank of Ghana (BoG) has affirmed that it is increasing its reserves to prevent the cedi's depreciation against major foreign currencies as demand for forex is expected to rise during the upcoming festive season. The apex bank believes the action is aimed at reassuring businesses and consumers by guiding the local currency towards greater stability in light of current pressures. Currently, the cedi is trading at around GH¢17 to a dollar on the forex market, representing a year-to-date depreciation of 24.3 percent. Governor of the of Central Bank, Dr. Ernest Addison emphasised that boosting reserves is crucial in managing fluctuations in the cedi's…
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Cedi Lost 24.3% To Dollar In Nine Months Of 2024 – BoG
27 Sep

Cedi Lost 24.3% To Dollar In Nine Months Of 2024 – BoG

wontumionlineBusiness,
The Ghana cedi lost 24.3% to the US dollar on the interbank forex market as of September 2024, the Bank of Ghana has revealed in its Summary of Economic and Financial Data. This is lower than the 22.9% depreciation recorded during the same period last year. According to the data, the Cedi lost 7.7% in value to the dollar in March 2024 and depreciated by 18.6% in June 2024. Whilst it is going for GH¢16.45 on average against the dollar on the retail market, the Bank of Ghana is quoting one dollar as GH¢15.70. Against the pound, the cedi has…
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Cedi Projected To Stabilise Amid U.S. Federal Rate Cut Speculation
18 Sep

Cedi Projected To Stabilise Amid U.S. Federal Rate Cut Speculation

wontumionlineBusiness
The Ghanaian Cedi, which has experienced a year-to-date depreciation of over 27% against the US dollar, appears to be stabilizing, as market analysts forecast a potential rate cut by the U.S. Federal Reserve. Such a move could weaken the dollar, providing a much-needed boost for the Cedi’s recovery. Last week, the Cedi posted notable gains against the dollar and other major foreign currencies after a prolonged depreciation. The rebound was attributed to increased corporate demand, largely driven by seasonal pressures ahead of the festive season. Supported by the Bank of Ghana’s auction to Bulk Oil Distribution Companies (BDCs), the Cedi…
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