Ghana’s local currency, the cedi, continues to gain momentum against major trading currencies, especially the dollar at some forex bureaus.<\/p>\n
The cedi ended November selling at GH\u00a216.40 at some forex bureaus after recording up to GH\u00a217.00 in the months prior.<\/p>\n
The Bank of Ghana attributed the gains to the growth in Ghana’s external sector.<\/p>\n
In its daily update, the Central Bank noted that as of December 16, 2024, the cedi is trading at a buying price of GH\u00a214.73 and selling at GH\u00a214.74.<\/p>\n
The British Pound is being bought at GH\u00a218.60 and sold at GH\u00a218.62.<\/p>\n
The Euro trades at a buying price of GH\u00a215.46 and a selling price of GH\u00a215.48.<\/p>\n
Checks by GhanaWeb Business as of December 16, 2024, at 8:30 AM show that the cedi is trading at GH\u00a215.70 to the dollar, while the pound is trading at GH\u00a219.80 at some major forex bureaus across the country.<\/p>\n
Additionally, the Euro is trading at GH\u00a217.00 on the retail market.<\/p>\n
Despite the current gains, the decline of the cedi against major trading currencies will further worsen the woes of the Ghanaian economy.<\/p>\n
The Bank of Ghana in its efforts to curb the depreciation of the cedi sold some dollars, worth over 200 million.<\/p>\n
Check the exchange rates for forex bureaus and the BoG below:<\/b><\/p>\n
![](\"https:\/\/cdn.ghanaweb.com\/imagelib\/src\/forex.jpg\")
<\/p>\n
Watch the latest edition of BizTech below:<\/b><\/p>\n