Ghanaian Cedi Depreciates Against Dollar Amid Slightly Lower Rates

The Ghanaian Cedi has depreciated slightly in value against the US dollar on Friday, July 31. The average buying rate is GHS11.58, a one pesewa decline from Thursday's rates. The selling rate remains the same at GHS12.12.

At forex bureaus, the Cedi trades at GHS11.95 for dollar purchases and GHS12.30 for dollar sales. On the Bank of Ghana interbank market, the cedi is trading at GHS11.68 for buying and GHS11.69 on the selling rates.

The British pound is trading at an average forex bureau rate of GHS15.38 for buying and GHS16.25 for selling. The Bank of Ghana's interbank rate for the pound is GHS15.75. The Euro is also trading at GHS13.16 for buying and GHS13.91 for selling at forex bureaus, with an interbank rate of GHS13.48.

Money transfer services LemFi and Taptap Send are offering dollar rates of GHS11.70 each for remittances from the US or UK to Ghana. For the British pound, these services offer GHS15.71 each for remittances from the US or UK. The Euro is quoted at GHS13.45 for remittances from the US or UK to Ghana.

Digital subscription payments such as Netflix, Spotify, and Apple Music made via Visa and Mastercard are subject to an exchange rate of GHS12.53 each.