Ghana Cedi Depreciates Against Major Currencies in Latest BoG Rates

The Ghana cedi has recorded mixed movements against major currencies in the latest Bank of Ghana (BoG) exchange rate update. The US dollar, pound sterling, and euro all showed higher average rates compared to the previous trading session.

The US dollar rose slightly to GH¢11.6225, a marginal depreciation of the cedi against the dollar. The pound sterling recorded a larger increase in its average rate, gaining about GH¢0.02 against the cedi with an average of GH¢15.3958. Similarly, the euro strengthened slightly, climbing to GH¢13.2443.

The BoG rates are interbank reference rates, meaning actual exchange rates may differ at commercial banks and forex bureaux. The modest depreciation of the cedi against all three major currencies can affect local costs of imported goods, international payments, travel, and other transactions requiring foreign currency.