The slight depreciation has been partially attributed to a shortage of dollars on the market
The local currency, the cedi, has depreciated marginally on the interbank market against major trading currencies, particularly the US dollar.
The depreciation has been partially attributed to a shortage of dollars on the market.
In its daily update, the Bank of Ghana noted that the cedi is trading at a buying price of GH¢10.34 and a selling price of GH¢10.35 to the dollar.
The British pound is being bought at GH¢14.06 and sold at GH¢14.08, while the euro is trading at a buying price of GH¢11.96 and a selling price of GH¢11.97.
Checks by GhanaWeb Business on June 16, 2025, at 8:00 AM indicate that the cedi is trading at GH¢11.95 to the dollar, while the pound is selling at GH¢16.70 at some forex bureaus across the country. Additionally, the euro is trading at GH¢14.60 on the retail market.
Social media users who have been closely monitoring the cedi’s performance have expressed both shock and confusion over the recent marginal depreciation.
Some have also questioned the Bank of Ghana’s strategy, lamenting the persistent dollar shortage on the market.
See some reactions below:
I suggested last week ( when the Israel-Iran war had Not started yet ) that the Bank Of Ghana should drop the dollar more to about 7 or 8 cedis, so that if there’s any unforeseen situations, it will move to about 9 or 10.
— MUBARAK 🌍 (@Mubarakmozac) June 16, 2025
With this rate how can the price of goods be reduced because business owners will know that the dollar will go back again so he or she won’t reduce the prices
— Property (@Property1297575) June 16, 2025
It’s depreciating Yie
— MCFC SELORM💙 (@tema_strika) June 16, 2025
Low key it’s affecting my business but since it’s best for the economy at a long round. I’m cool, just hurt it’s not affecting the sales market. My clients outside pay and I don’t get high reflections in the cedis here.
— Tha godz creations (@godsladnan) June 16, 2025
Ei ei ei ei ei ei
So with all the resources God has blessed us , 10 cedis is our best err
Charley we dont like what you guys are doing— Ransford Asante (@kinglucasJRR) June 16, 2025
Charlie we the online gamers aren’t happy with how the dollar is going oooo oh Aden if we cash out big. It will be small ooooo Arh Charlie
— Satan Company 💀☠️🇬🇭🇯🇲🇺🇸🇨🇦 (@evils_only) June 16, 2025
Now that the grace period has ended, reality is beginning to sink in. 🤣🤣
— Nhyiraba Patriot 🇫🇷🐘 (@BlesskJb) June 16, 2025
SSD/MA
Watch the latest edition of BizTech below:
Click here to follow the GhanaWeb Business WhatsApp channel