The exchange rates are no longer favouring the Ghana cedi as the dollar and other major trading currencies begin to appreciate. The rates quoted by four major banks show that, gradually the dollar is gaining strength.
The rates quoted on Christmas day by major banks in Ghana showed at least a 50 Pesewas depreciation of the cedi for the buying rate and between 50P and GHS1.00 appreciation of the selling selling rate. What this means is that, those with Dollars are getting at least 50p more per dollar they convert whiles those looking for Dollars to buy are paying between 50P and GHS1.00 more.
Before 24th December, the dollar was selling at GHS10.90 in GCB however, on 25th December it sold at GHS11.85. The selling rate quoted in forex bureaus for the dollar are between GHS12.00 and GHS13.00.
Exchange rates not favouring the CEDI: check the latest dollar rates now as of December 25th
At the GCB, the Buy rate for the dollar was 9.00 and the sell rate was GHS11.85
At the Stanbic Bank, the Buy rate for the dollar was 8.50 and the sell rate was GHS10.50
At the ABSA, the Buy rate for the dollar was 8.50 and the sell rate was GHS10.70
At the Fidelity Bank, the Buy rate for the dollar was 8.70 and the sell rate was GHS10.60
At the CalBank, the Buy rate for the dollar was 8.25 and the sell rate was GHS11.50
At the Binance P2P, the Buy rate for the dollar was 10.72 and the sell rate was GHS10.72