Ghanaian Cedi Depreciates Against US Dollar on August 7

The Ghanaian Cedi has seen a slight depreciation in value against the US dollar on Friday, August 7. The average buying rate is GHS11.65 and the selling rate is GHS12.16, both declines of one and two pesewas respectively compared to Thursday's rates.

At forex bureaus, the Cedi is trading at GHS12.10 for dollar purchases and GHS12.40 for dollar sales, according to Cedirates.com. The Bank of Ghana interbank market sees the cedi trading at GHS11.75 for buying and GHS11.76 on the selling rates.

For other major currencies, the British pound is trading at GHS15.57 for buying and GHS16.41 for selling at forex bureaus, while the Bank of Ghana's interbank rate for the pound is GHS15.83. The Euro is also trading at GHS13.33 for buying and GHS14.06 for selling at forex bureaus.

In the money transfer space, LemFi and Taptap Send are offering dollar rates of GHS11.75 and GHS11.77 respectively for remittances from the US or UK to Ghana. The exchange rate for digital subscription payments such as Netflix, Spotify, and Apple Music made via Visa and Mastercard stands at GHS12.63 and GHS12.65 respectively.