Ghana cedi rises against pound and euro, weakens against dollar: Latest BoG rates

The cedi strengthened against the pound, with its buying rate falling by GH¢0.0204.

The euro’s buying rate declined by GH¢0.0291, indicating a gain for the cedi.

The latest average interbank rates, based on transactions at the close of business on Tuesday, October 27, show the US dollar trading at GH¢11.6542 for buying and GH¢11.6658 for selling.

Compared with the previous rates published on Tuesday, October 27, the dollar’s buying rate increased from GH¢11.6442 to GH¢11.6542, while its selling rate rose from GH¢11.6558 to GH¢11.6658. Both rates increased by GH¢0.0100, indicating that the cedi weakened slightly against the US currency.

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The pound sterling, however, moved in the opposite direction. Its buying rate fell from GH¢15.5403 to GH¢15.5199, a decline of GH¢0.0204. The selling rate also dropped from GH¢15.5570 to GH¢15.5366, representing a decrease of GH¢0.0204. The lower rates indicate that the cedi strengthened against the pound.

The euro also became cheaper in cedi terms. Its buying rate declined from GH¢13.0164 to GH¢12.9873, a reduction of GH¢0.0291. The selling rate fell from GH¢13.0282 to GH¢13.0002, down by GH¢0.0280.

Also Read: Ghana Cedi weakens against Dollar, Pound and Euro in latest BoG rates

Euro The latest figures therefore show the cedi losing some ground against the US dollar while gaining against the pound and euro. Among the three currencies, the euro recorded the largest decline in its buying rate.

The rates published by the Bank of Ghana are average interbank figures used by commercial banks for transactions. They are based on trading at the close of business on Monday, October 26, and Tuesday, October 27, respectively, and may differ from the rates offered by individual banks and foreign exchange bureaux.

Also Read: Ghana cedi weakens against dollar, pound and euro: Latest BoG rates