CEDI Archives - Page 8 of 12

07 Mar

Cedi Sells At GH¢12.80 At Bureaus, GH¢11.01 On Interbank Market As Of March 7

wontumionlineBusinessCEDI, Forex bureau

Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra. The Interbank forex rates from the Bank of Ghana today, March 7, 2023, have shown that the Ghana Cedi is trading against the dollar at a buying price of 11.0083 and a selling price of 11.0193. At a forex bureau in Accra, the dollar is being bought at a rate of 12.20 and sold at a rate of 12.80. Against the Pound Sterling, the Cedi is trading at a buying price of 13.1835 and a selling price of…

06 Mar

Cedi Sells At GH¢12.80 At Bureaus, BoG At GH¢11.00 As Of March 6

wontumionlineBusinessCEDI

Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra. The Interbank forex rates from the Bank of Ghana today, March 6, 2023, have shown that the Ghana Cedi is trading against the dollar at a buying price of 11.0083 and a selling price of 11.0193. At a forex bureau in Accra, the dollar is being bought at a rate of 12.20 and sold at a rate of 12.80. Against the Pound Sterling, the Cedi is trading at a buying price of 13.1835 and a selling…

28 Feb

Cedi Lost 1.94% Value To Dollar Last Week; $1 Equals ¢13.05

wontumionlineBusinessCEDI, dollar, Euro, pound, retail market

The Ghana cedi lost about 1.94% value to the US dollar last week to trade at an average of ¢13.0. The local currency closed the week at an indicative rate of ¢11.01/$1 on the interbank market. It also posted a week-on-week depreciation of 1.94% against the pound and 1.83% vs. the euro on the retail market. This was despite increased foreign exchange (FX) support on the market by the Bank of Ghana. Although the Bank of Ghana increased dollar support on the market, it could not tame the demand for the American greenback. The Central Bank also provided about $10.75…

22 Feb

Cedi Lost 3.14% Value To Dollar Last Week; Near-Term Outlook Uncertain

wontumionlineBusinessBoG, CEDI, dollar

The Ghana cedi lost about 3.14% value to the US dollar last week as the renewed depreciatory pressures set in. It started the week at about ¢12.50 to the American greenback, but ended the week at about ¢12.70. The local currency also declined by 1.97% to the pound and 1.49% to the euro respectively in the retail market. Although the Bank of Ghana continued to intervene in the market, it could only sell $5 million on the spot market. This did not ease the demand pressures. In the forward market, the regulator received and allocated $30 million at a 30-day…

20 Feb

Cedi Losses Some Stability; $1 Equals ¢12.90

wontumionlineBusinessBoG, CEDI, DDEP, dollar

The recent gains by the Ghana cedi has come to a halt as the local currency lost some stability to the US dollar today February 20, 2023. At the forex bureaus today, the cedi was going for ¢12.90 to one American ‘greenback’. The same story could also be told about the pound and the euro, as the cedi was being sold for ¢15.20 and ¢13.60 respectively. However, the Bank of Ghana is quoting a dollar at ¢10.80 on the interbank market. On Friday, February 17, 2023, the cedi traded at ¢12.75 to one American currency. Prior to that, the cedi…

15 Feb

Fuel Prices To Fall Between 7% And 11% From February 16

wontumionlineBusinessCEDI, Diesel, IES, LPG, Petrol

The prices of petrol and diesel are expected to drop significantly between 7.1% and 10.8% at the pumps, from Thursday February 16, 2022. However, that of Liquefied Petroleum Gas (LPG) will go up for the next two weeks. According to the Institute for Energy Security (IES), petrol will sell at about ¢14.40 per litre, and diesel going for about ¢13.90 per litre in the coming days. But the price of a kilogramme of LPG may hinged up to sell at ¢14.70 before the close of second pricing-window for February 2023. The expected fall in petrol and diesel is due a marginal appreciation…

14 Feb

Cedi Continues Rise Against Dollar; Gained 0.81% Last Week

wontumionlineBusinessBoG, CEDI, dollar, imf

The Ghana cedi continued to rise steadily against the US dollar amidst the Bank of Ghana’s tight foreign exchange intervention. Last week, the local currency gained about 2.31% in value against the American ‘greenback’, although the Central Bank reduced its support to the market. The regulator sold only $5 million on the spot market, while withholding its bi-weekly FX auctions. The cedi closed on Friday, February 10, 2023, at an indicative rate of ¢10.80 to one US dollar on the interbank market. It gained 0.81% to the dollar to close at a mid-rate of ¢12.35/US$ on the retail market. It…

09 Feb

Cedi Cuts Losses

wontumionlineBusinessCEDI

The cedi extended its gains against major trading currencies last week, raising hopes that the local currency is beginning to stay steady ahead of a deal with the International Monetary Fund (IMF) later this quarter. The currency appreciated against the US dollar, the euro and the British pound last week to extend the positive run over the last fortnight. The rebound saw the local currency narrowing its year-to-date (YTD) losses to the US dollar, the British pound and the euro to 20.6 per cent, 21 per cent and 22.8 per cent respectively. GCB Capital Limited, an investment bank, said in…

07 Feb

Demand For Dollars Ease; Bog Sold Only $9.2m On Spot Market

wontumionlineBusinessBoG, CEDI, dollar, Euro, pound

Demand for dollars continued to ease as the Bank of Ghana sold only $9.2 million on the spot market last week (January 30 – February 3, 2023). Analysts and Market watchers believe the progress made by government on the Domestic Debt Exchange Programme (DDEP) will positively improve investor confidence in the economy, boosting the outlook of the cedi. The deadline for the programme is expected to end today February 7, 2023. All things being equal, the attainment of the 80% subscription target will enhance the outlook of the cedi for the rest of the year. The local currency gained across…

06 Feb

Cedi Continues Recent Gain Against Dollar; $1 Now ¢10.40

wontumionlineBusinessCEDI, dollar, Euro, forex bureaus, pound

The Ghana cedi continued its recent gain against the US dollar, starting the week on a positive note. Checks by Joy Business at the forex bureaus indicate that the local currency gained 10 pesewas early morning of February 6, 2023, to sell at ¢10.40 to the dollar. This narrowed its year-to-date loss in the retail market. The same story can also be said about the pound and the euro as the cedi is going for ¢14.80 and ¢13 respectively. The cedi gained about 3.1% value to the American ‘greenback’ last week. A week before, it improved in value by about…