Analysis of Exchange Rates Quoted by Banks, Forex Bureaus, and Fintech Companies for Monday, October 10th, 2023
Dollar to Cedi
Binance P2P, a crypto exchange, offers the best buying rate for dollars at GHS 12.03, while Ecobank, a commercial bank, offers the worst buying rate at GHS 11.35.
Wise, a money transfer company, does not offer a selling rate for dollars.
The mid-rate for dollars is GHS 11.46.
Pound to Cedi
AfriSwap, a forex bureau, offers the best buying rate for pounds at GHS 14.10, while Ecobank, a commercial bank, offers the worst buying rate at GHS 13.75.
Wise, a money transfer company, does not offer a buying rate for pounds.
The mid-rate for pounds is GHS 14.04.
Euro to Cedi
WeWire Africa, a fintech company, offers the best buying rate for euros at GHS 12.18, while Standard Chartered, a commercial bank, offers the worst buying rate at GHS 11.66.
Wise, a money transfer company, does not offer a buying rate for euros.
The mid-rate for euros is GHS 12.05.
Overall Analysis
Crypto exchanges and fintech companies tend to offer better exchange rates than banks and forex bureaus.
This is likely because they have lower overheads and are more competitive.
However, it is important to note that there are other factors to consider when choosing a money exchange provider, such as convenience, security, and reputation.
Recommendations
If you are looking for the best exchange rate, it is worth comparing the rates offered by different providers.
You can do this using a currency converter website or app.
It is also important to read the terms and conditions carefully before making a transaction.
Some providers may charge fees or have minimum transaction amounts.
Exchange Rates for Dollar, Pound, and Euro Offered by Banks, Forex Bureaus, and Fintech Companies For October 10th, 2023
Dollar-to-Cedi Exchange Rates
| Name | Buying | Selling | MidRate | |
|---|---|---|---|---|
| Binance P2P Crypto Exchange | 12.03 | 12.03 | 12.03 | |
| WeWire Africa Fintech | 11.95 | 12.15 | 12.05 | |
| CediConvert Crypto Exchange | 11.93 | 12.00 | 11.96 | |
| AfriSwap Forex Bureau | 11.65 | 11.95 | 11.80 | |
| GAFORB Forex Bureau | 11.60 | 11.90 | 11.75 | |
| Wise Money Transfer | 11.36 | – | – | |
| Ecobank Commercial Bank | 11.35 | 11.65 | 11.50 | |
| Stanbic Bank Commercial Bank | 11.30 | 11.75 | 11.52 | |
| Absa Bank Commercial Bank | 11.30 | 11.75 | 11.52 | |
| Access Bank Commercial Bank | 11.27 | 11.65 | 11.46 | |
| Bank Of Ghana Central Bank | 11.22 | 11.23 | 11.22 | |
| Western Union Money Transfer | 11.20 | – | – | |
| WorldRemit Money Transfer | 11.20 | – | – | |
| Fidelity Bank Commercial Bank | 11.20 | 11.75 | 11.47 | |
| Standard Chartered Commercial Bank | 11.20 | 11.73 | 11.46 | |
| Zenith Bank Commercial Bank | 11.20 | 11.72 | 11.46 | |
| CalBank Commercial Bank | 11.20 | 11.76 | 11.48 | |
| Remitly Money Transfer | 11.18 | – | – | |
| Sendwave Money Transfer | 11.15 | – | – | |
| CBG Bank Commercial Bank | 11.12 | 11.72 | 11.42 | |
| GCB Bank Commercial Bank | 11.10 | 11.62 | 11.36 | |
| UBA Commercial Bank | 11.00 | 11.70 | 11.35 | |
| GTBank Commercial Bank | 11.00 | 11.59 | 11.29 | |
| Visa Payment Processor | – | 12.60 | – |
Pound to Cedi Exchange Rate
| Name | Buying | Selling | MidRate | |
|---|---|---|---|---|
| AfriSwap Forex Bureau | 14.10 | 14.60 | 14.35 | |
| GAFORB Forex Bureau | 14.00 | 14.50 | 14.25 | |
| WeWire Africa Fintech | 14.00 | 14.49 | 14.24 | |
| Wise Money Transfer | 13.89 | – | – | |
| Western Union Money Transfer | 13.82 | – | – | |
| Absa Bank Commercial Bank | 13.78 | 14.33 | 14.05 | |
| Ecobank Commercial Bank | 13.75 | 14.12 | 13.93 | |
| Stanbic Bank Commercial Bank | 13.72 | 14.36 | 14.04 | |
| Bank Of Ghana Central Bank | 13.69 | 13.70 | 13.69 | |
| GTBank Commercial Bank | 13.65 | 14.57 | 14.11 | |
| Fidelity Bank Commercial Bank | 13.62 | 14.28 | 13.95 | |
| Access Bank Commercial Bank | 13.61 | 14.36 | 13.98 | |
| Sendwave Money Transfer | 13.58 | – | – | |
| WorldRemit Money Transfer | 13.55 | – | – | |
| CBG Bank Commercial Bank | 13.50 | 14.29 | 13.90 | |
| GCB Bank Commercial Bank | 13.50 | 14.30 | 13.90 | |
| UBA Commercial Bank | 13.50 | 14.35 | 13.92 | |
| Remitly Money Transfer | 13.48 | – | – | |
| Standard Chartered Commercial Bank | 13.47 | 14.34 | 13.91 | |
| CalBank Commercial Bank | 13.38 | 14.76 | 14.07 | |
| Zenith Bank Commercial Bank | 13.11 | 14.34 | 13.72 |
EURO TO CEDI EXCHANGE RATE
| Name | Buying | Selling | MidRate | |
|---|---|---|---|---|
| WeWire Africa Fintech | 12.18 | 12.60 | 12.39 | |
| GAFORB Forex Bureau | 12.00 | 12.50 | 12.25 | |
| AfriSwap Forex Bureau | 12.00 | 12.50 | 12.25 | |
| Wise Money Transfer | 11.99 | – | – | |
| Ecobank Commercial Bank | 11.93 | 12.24 | 12.08 | |
| Absa Bank Commercial Bank | 11.91 | 12.38 | 12.15 | |
| Stanbic Bank Commercial Bank | 11.86 | 12.44 | 12.15 | |
| Bank Of Ghana Central Bank | 11.82 | 11.83 | 11.83 | |
| Fidelity Bank Commercial Bank | 11.80 | 12.35 | 12.07 | |
| WorldRemit Money Transfer | 11.77 | – | – | |
| Zenith Bank Commercial Bank | 11.76 | 12.40 | 12.08 | |
| Access Bank Commercial Bank | 11.75 | 12.43 | 12.09 | |
| Sendwave Money Transfer | 11.75 | – | – | |
| GTBank Commercial Bank | 11.73 | 12.53 | 12.13 | |
| GCB Bank Commercial Bank | 11.70 | 12.40 | 12.05 | |
| CBG Bank Commercial Bank | 11.67 | 12.36 | 12.02 | |
| UBA Commercial Bank | 11.67 | 12.32 | 11.99 | |
| Remitly Money Transfer | 11.67 | – | – | |
| Standard Chartered Commercial Bank | 11.66 | 12.45 | 12.05 | |
| Western Union Money Transfer | 11.55 | – | – | |
| CalBank Commercial Bank | 11.48 | 12.64 | 12.06 |
Finally, it is important to choose a reputable provider. You can check online reviews or ask friends and family for recommendations.