Forex bureau

Cedi Sells $1 At GH¢16.30 At BoG, GH¢17.20 At Major Forex Bureaus
12 Nov

Cedi Sells $1 At GH¢16.30 At BoG, GH¢17.20 At Major Forex Bureaus

wontumionlineBusiness, ,
Ghana’s local currency continues to experience persistent depreciation against major trading currencies such as the US dollar. The cedi, which has been under pressure throughout the year, recorded relative stability in July this year, while inflationary pressures continued declining. As of November 12, 2024, the Bank of Ghana is buying $1 at GH¢16.29 and selling at GH¢16.30. The British Pound is being bought at GH¢20.96 and sold at GH¢20.98 while the Euro is being bought GH¢17.35 and sold at GH¢17.37. However, checks by GhanaWeb Business as of November 12, 2024, at 10:00 AM show that the cedi is trading at…
Read More
Forex Bureaux To Verify Ghana Cards, Passports Before Transactions Effective August 1
01 Aug

Forex Bureaux To Verify Ghana Cards, Passports Before Transactions Effective August 1

wontumionlineBusiness
The Bank of Ghana has announced an update to its foreign exchange trading system, introducing a centralised platform aimed at ensuring the integrity and development of the financial system. Effective August 1, 2024, all licensed Foreign Exchange Bureaux in Ghana will be required to verify customer identities using Ghana Cards or Passports before conducting any transactions. This new platform is a major milestone in the Bank of Ghana’s efforts to promote safe and sound operations within the foreign exchange market. The initiative is designed to improve oversight for Directors and Management of the bureaux, and enhance the Bank’s ability to…
Read More
30-Year-Old Woman In Court For Stealing $1,600 At Forex Bureau
23 Apr

30-Year-Old Woman In Court For Stealing $1,600 At Forex Bureau

wontumionlineNews
A 30-year-old Nigerien woman, who allegedly connived with two other foreign nationals to steal $1,600 from a cashier, at a forex bureau, at the Accra Mall, ap­peared before the Adentan Circuit Court. Raquia Mohammed Rashida, charged with abetment of crime, namely stealing, has pleaded not guilty. Rashida’s accomplices, whose names were given as Bashir Mahmoud Ramzy, aka Waleed Mahamoud, and Yasmin Sadiq Ebrahim, are at large. The court presided over by Mrs Sedinam Awo Balokah granted GH¢50,000 bail with one surety to Rashida. Related Articles • Mr Kyerematen I’ll reconcile, sanitise political atmosphere to enhance devt – Alan Kyerematen March…
Read More
Cedi Sells At GH¢12.80 At Bureaus, GH¢11.01 On Interbank Market As Of March 7
07 Mar

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

wontumionlineBusiness,
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…
Read More
BoG Revokes License Of Two Popular Forex Bureaus In Accra
27 Oct

BoG Revokes License Of Two Popular Forex Bureaus In Accra

wontumionlineBusiness,
The Bank of Ghana has revoked the license of the Airport City Forex Bureau within the Atlantic Tower building and Trade House Forex Bureau Ltd, a popular forex bureau at the Marina Mall. The closure follows the failure of the operators to issue receipts and breaching Foreign Exchange laws in the country. The two forex bureaus are under the same ownership. They were detected by a mystery shopping exercise by the central bank. Source: Citinewsroom
Read More
Forex Bureaux In Ghana Cry Over Parallel Competition With Black Market Operators
21 Oct

Forex Bureaux In Ghana Cry Over Parallel Competition With Black Market Operators

wontumionlineBusiness, , ,
Forex bureaux in Ghana are lamenting the stiff parallel competition they are facing with illegal operators popularly known as black market. Vice President of Forex Beurau Association of Ghana, Dr Alex Akpabli said on the New Day  show with Roland Walker on TV3 Friday October 21 that the activities of the black marketers pose a serious challenge to them. “We have the parallel market that competes with us, the black market, that is the challenge. “If you need Dollar come to us and we can help but if you choose black market which is not safe then there is a…
Read More
$1 Dollar Nears ¢13 As Fast Depreciation Of Cedi Continues
19 Oct

$1 Dollar Nears ¢13 As Fast Depreciation Of Cedi Continues

wontumionlineBusiness, , ,
The fast depreciation of the Ghana cedi continues with no end in sight as the local currency nears ¢13 to a dollar. This is more than 6% depreciation in only three days of the week (October 17-19). It may hit ¢13 by the close of the day, based on how trading is going in the retail market. According to the rate from the forex bureaus, most of the operators are selling the local currency between ¢12.50 and ¢12.95. Few are, however, selling the cedi at approximately ¢13 to the American ‘greenback’. Again, some banks are struggling to get the dollar…
Read More