Ghanaian Cedi Weakens Against US Dollar Amid August 5 Market Fluctuations
The Ghanaian Cedi has depreciated in value against the US dollar on Wednesday, August 5, 2026. According to Cedirates.com, a reliable platform that tracks daily currency and fuel rates, the average buying rate is GHS11.62, which represents a two-pesewa decline compared to Tuesday's rate.
The selling rate for dollars at forex bureaus stands at GHS12.35, while on the Bank of Ghana interbank market, it is trading at GHS11.73. The British pound and Euro are also experiencing significant fluctuations in value against the Cedi, with rates ranging from GHS15.51 to GHS16.36 for the pound and GHS13.28 to GHS14.01 for the Euro.
LemFi and Taptap Send, two major money transfer services, are offering competitive rates for dollar remittances from the US or UK to Ghana, with both companies quoting a rate of GHS11.73. For digital subscription payments via Visa and Mastercard, the exchange rate stands at GHS12.60 and GHS12.61 respectively.