The Inter-bank Exchange Rates

Accra,(Greater Accra) 20 Oct. The following are the average inter-bank exchange rates for Monday, October 20, as issued by the Ghana Association of Bankers:

CEDI EQUIVALENT

Country Currency Buying Selling

France French Franc 372.23 378.42 Switzerland Swiss Franc 1,501.39 1,527.27 U.K. Pound Sterling 3,604.08 3,670.94 United States U.S. Dollar 2,210.82 2,250.45 Germany Deutsche Mark 1,246.57 1,269.26 Belgium Belgian Franc 60.46 61.53 Canada Canadian Dollar 1,595.71 1,623.74 Japan Japanese Yen 18.23 18.56 Holland Dutch Guilder 1,106.66 1,126.23 South Africa Rand 469.93 478.11 CFA Franc Zone CFA 3.72 3.78 Nigeria Naira 26.41 26.88

The cedis is still expected this week to make significant gains over the major currencies of the world due to continous decrease in demand for dollar. The dollar opened today between ?2,245.00 and ?2,275.00, whilst the pound sterling was sold between ?3,560.00 and ?3,600.00. The Deutsche Marks also opened between ?1,275.00 and ?1,320.00. The rate of the cedi against the other currencies is :

BUYING SELLING

CFA 3,600.00 3,800.00 French Francs 350.00 380.00 Canadian Dollar 1,380.00 1,500.00 Swiss Francs 1,380.00 1,500.00 Dutch Guilders 1,120.00 1,200.00 Japanese Yen 14.00 15.00