Bank of Ghana Exchange Rates and Cedi Rates Out

The Bank of Ghana Exchange Rates and those of Cedi Rates have been released for trading today 16 Nov 2022.

While the Cedi Rates released its rates based on the open market at 8:40 am today, the BoG made the interbank rates public at exactly 8:50 AM.

The rates quoted by the BoG are interbank rates. The interbank rate or interbank exchange rate is a financial concept used to express foreign exchange rates, which are paid by banks when they conduct currency trading with other banks. Interbank, or “between banks,” is when a bank pursues business with another bank. The banks do not sell or buy foreign currency at these rates when dealing with buyers and sellers (customers) who are not financial institutions. However, note that these rates quoted by BoG are only the average rates.

Exchange Rates from Cedi Rates are as follows.

1 USD ➔ ₵ 14.59  

1 GBP ➔ ₵ 17.31  

1 EUR ➔ ₵ 15.16

₿ 1 BTC ➔ ₵ 244,292

The rates are the selling rates for the major trading currencies at the start of business this morning.

On the other hand, the Bank of Ghana Exchange Rates are

1 USD ➔ ₵ 13.08

1 GBP ➔ ₵ 15.55

1 EUR ➔ ₵ 13.56

The difference between the BoG rates and that of Cedi Rates are as follows

USD ➔ ₵1.51

1 GBP ➔ ₵ 1.76

1 EUR ➔ ₵ 1.60