Cedi Remains Stable Against Dollar, Weakens Against Pound and Euro

The Ghanaian cedi's performance against major currencies has been mixed in the latest Bank of Ghana (BoG) exchange rates published for September 1. The local currency remains unchanged against the US dollar, with a selling rate of GH¢11.2556.

However, it has weakened against both the pound sterling and euro compared to Monday's update. The cedi's buying rate against the pound increased from GH¢15.2226 to GH¢15.2350, while its selling rate rose from GH¢15.2390 to GH¢15.2514.

The euro also recorded an increase, with its buying rate rising from GH¢13.0286 to GH¢13.0616 and its selling rate increasing from GH¢13.0415 to GH¢13.0745. This represents a loss of GH¢0.0330 for the cedi against the euro on both buying and selling rates.

The exchange rates are crucial for businesses and consumers, as movements in major currencies can affect the cost of imported goods, international payments, travel, and other foreign exchange transactions.