Ghana Cedi Loses Ground Against Major Currencies

The Ghanaian cedi has weakened against major currencies including the US dollar, pound sterling, and euro. The Bank of Ghana's (BoG) latest reference rates show a decline in the cedi's value.

The US dollar is now quoted at a buying rate of GH¢11.3943 and a selling rate of GH¢11.4057. The pound sterling has also increased in value, trading at GH¢15.4051 for buying and GH¢15.4216 for selling. The euro stands at GH¢13.2392 for buying and GH¢13.2523 for selling.

The rates are based on average interbank exchange rates used by commercial banks for transactions at the close of business on Friday, September 4. Compared to the previous BoG update, the cedi has depreciated against all three major currencies.