Accra, Ghana – On Saturday, May 25, 2024, the Ghanaian cedi experienced a decline against major foreign currencies, according to data from Cedirates.com, a reputable source for currency and fuel updates in Ghana.
The Ghanaian cedi depreciated by 11 pesewas in buying value and 2 pesewas in selling value against the US dollar. The buying rate is now GHS14.31, while the selling rate stands at GHS14.91. Interbank rates show the cedi trading at GHS13.94 for purchasing and GHS13.96 for selling against the US dollar.
Currency bureaus like AfriSwap and Perebrim are purchasing the US dollar for GHS14.80 and GHS14.90, respectively, and selling at GHS15 and GHS15.30.
Compared to Friday’s rates, the British Pound Sterling decreased by 1 pesewa in buying value but increased by 2 pesewas in selling value against the cedi. The average rates for the pound sterling are GHS18 for buying and GHS18.86 for selling.
The Euro, on the other hand, increased by 12 pesewas in buying value and 1 pesewa in selling value against the cedi. The purchasing and selling rates for the euro are GHS15.32 and GHS16.08, respectively.
On the Bank of Ghana interbank market, the selling price of the pound sterling is GHS17.79, representing an 8 pesewas rise from the previous rate. The euro is selling at GHS15.14, indicating a 6 pesewas rise from the previous rate.
For money transfers from the US or the UK to Ghana, LemFi and Afriex offer rates of GHS14.20 and GHS14.50 for each dollar, respectively. These platforms also provide buying and selling rates of GHS18.10 and GHS18.52 for the British Pound.
Afriex, which updated euro rates, is selling €1 for GHS15.62.
Visa and Mastercard are offering rates of GHS15.69 and GHS15.78, respectively, for each US dollar for renewing subscriptions on platforms like Netflix, Spotify, or Apple Music.
