Cedi drops to GH¢16.05 at forex bureaus

Ghana's local currency, the cedi, has experienced marginal losses against major trading currencies, especially the dollar at some forex bureaus.

As of yesterday [December 19, 2024], the cedi was selling at GH¢15.95 at forex bureaus.

In its daily update, the Central Bank noted that as of December 20, 2024, the cedi is trading at a buying price of GH¢14.73 and selling at GH¢14.74.

The British Pound is being bought at GH¢18.44 and sold at GH¢18.46.

The Euro trades at a buying price of GH¢15.28 and a selling price of GH¢15.29.

Checks by GhanaWeb Business as of December 20, 2024, at 10:00 AM show that the cedi is trading at GH¢16.05 to the dollar, while the pound is trading at GH¢20.25 at some major forex bureaus across the country.

Additionally, the Euro is trading at GH¢17.00 on the retail market.

Despite the current gains, the decline of the cedi against major trading currencies will further worsen the woes of the Ghanaian economy.

The Bank of Ghana in its efforts to curb the depreciation of the cedi sold some dollars, worth over 200 million.

SSD/MA

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