Cedi Appreciates Against US Dollar on August 15
The Ghanaian Cedi has continued its upward trend against the US dollar, recording an appreciation of eleven pesewas at the forex market on August 15. The average buying rate stands at GHS11.04, while the selling rate is GHS11.84.
At forex bureaus, the Cedi is trading at GHS11.80 for dollar purchases and GHS12.30 for dollar sales. This marks a six pesewa appreciation compared to Friday's rates.
The Bank of Ghana interbank market also saw an appreciation of the Cedi, with buying rates at GHS10.94 and selling rates at GHS10.96. The British pound is trading at GHS14.83 for buying and GHS16.00 for selling on the forex market, while the Euro stands at GHS12.65 for buying and GHS13.70 for selling.
Money transfer platforms such as LemFi and Taptap Send are offering competitive rates for remittances from the US or UK to Ghana, with dollar rates of GHS11.00 each. The British pound is quoted at GHS14.96 each, while the Euro stands at GHS12.83 each.