The Bank of Ghana has released the official interbank exchange rates for Monday, April 28, 2025, providing insight into the Ghanaian Cedi’s performance against major foreign currencies. According to the data, the Cedi continues to face pressure, with relatively high buying and selling rates across the board. This reflects the ongoing challenges in the domestic and global economy, including inflationary trends, external debt concerns, and fluctuating commodity prices.
The US Dollar is being bought at GH₵14.5427 and sold at GH₵14.5573, while the British Pound Sterling has a buying rate of GH₵19.3796 and a selling rate of GH₵19.4005. The Euro has a buying rate of GH₵16.5468 and a selling rate of GH₵16.5618. These rates are based on the average interbank market transactions conducted by commercial banks as of the close of business on Friday, April 25, 2025.
The exchange rates are crucial for businesses, importers, and individuals engaging in forex transactions, as they determine the cost of doing business and maintaining purchasing power. The Bank of Ghana advises the public to consult licensed forex bureaus for retail transactions, as retail market rates may differ from interbank rates.
The financial sector is closely watching the movement of the Cedi, anticipating potential steps from monetary authorities to stabilize the currency in the coming months. The Bank of Ghana’s efforts to manage the economy and maintain stability will be critical in determining the Cedi’s performance.
The ongoing challenges facing the Cedi are a reflection of the broader economic environment. Inflationary trends, external debt concerns, and fluctuating commodity prices all contribute to the currency’s volatility. As the Bank of Ghana works to address these challenges, its decisions will have a significant impact on the economy.
The Bank of Ghana’s publication of the official interbank exchange rates provides transparency and helps market participants make informed decisions. By monitoring these rates, businesses and individuals can better navigate the foreign exchange market and manage their risks.
As the economy continues to evolve, the Bank of Ghana’s policies and interventions will be closely watched. The goal of stabilizing the Cedi and promoting economic growth will require careful consideration of the complex factors at play.
Story by: Ohemaa Adusi-Poku
