Ghana Cedi Loses Ground Against Major Currencies Amid Renewed Pressure

The Ghanaian cedi has weakened against major international currencies, according to the latest exchange rates from the Bank of Ghana. As of September 3, the US dollar is trading at a buying rate of GH¢11.3343 and a selling rate of GH¢11.3457.

The pound sterling is quoted at GH¢15.2991 for buying and GH¢15.3155 for selling, with a mid-rate of GH¢15.3073. The euro has also recorded a similar movement, trading at GH¢13.1379 for buying and GH¢13.1509 for selling.

The latest figures represent an increase in the dollar's buying rate by GH¢0.0674 compared to the previous day's rates. The pound sterling's buying rate has risen from GH¢15.2396 on September 1, while the euro's buying rate increased from GH¢13.0610.

The renewed pressure on the cedi may have implications for businesses and individuals who depend on foreign currency, particularly in terms of imports, overseas payments, travel, and other transactions linked to these major currencies.