Cedi currently selling at GH¢11.85 to $1
The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, has attributed the constant appreciation of the cedi to the efforts of his outfit.
According to him, the gains of the local currency are a result of high foreign exchange liquidity based on gold exports by the Ghana Gold Board.
He added that this, together with the measures being implemented by the Minister of Finance and the Governor of the Bank of Ghana.
Reacting to the cedi’s appreciation on May 22, 2025, he wrote on X, “The appreciation of the Ghana cedi continues unabated. This is not a product of gold reserve accumulation but rather, high forex liquidity, mainly on account of unprecedented gold exports by the Ghana Gold Board, coupled with a stringent monetary policy stance by the Bank of Ghana and fiscal consolidation by the Ato Forson-led Ministry of Finance.
“Indeed, #AbanPapaAba. Thank you, Mr. President @JDMahama, for delivering the Ghana cedi we all want,” he wrote.
In its daily update, the Bank of Ghana noted that the cedi is trading at a buying price of GH¢11.84 and a selling price of GH¢11.85 to the dollar.
The British pound is being bought at GH¢15.83 and sold at GH¢15.84, while the euro is trading at a buying price of GH¢13.33 and a selling price of GH¢13.34.
Checks by GhanaWeb Business on May 22, 2025, at 9:00 AM indicate that the cedi is trading at GH¢12.80, while the pound is selling at GH¢17.30 at some forex bureaus across the country.
Additionally, the euro is trading at GH¢14.80 on the retail market.
SSD/MA
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