The Ghanaian cedi continues its upward trajectory on the interbank market, demonstrating resilience against major international currencies, particularly the US dollar.
According to the latest update from the Bank of Ghana, the cedi is currently trading at a buying price of GH¢11.84 and a selling price of GH¢11.85 to the dollar. This marks a significant improvement in the local currency’s performance, reflecting ongoing efforts to stabilize the exchange rate.
Similarly, 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.
Despite the positive developments on the interbank market, retail exchange rates present slightly different figures. As of 9:00 AM on May 22, 2025, some forex bureaus across the country report that the cedi is trading at GH¢12.80 to the dollar. The British pound is being sold at GH¢17.30, while the euro is exchanging at GH¢14.80.
The appreciation of the cedi comes amidst measures by monetary authorities to stabilize the economy, coupled with improved market confidence. Analysts are optimistic about the cedi’s performance in the short to medium term, citing enhanced forex inflows and prudent fiscal management.
The sustained appreciation of the cedi is expected to bring relief to businesses and consumers, reducing the cost of imports and potentially curbing inflationary pressures in the economy.
Story by: Mercy Addai Turkson #ahotoronline.com
