Exchanging your $1000 into Ghanaian Cedis (GHS) can be a daunting task, especially when faced with a multitude of rates and platforms. This article provides a comprehensive comparison of GHS rates offered by various services, empowering you to make an informed decision.
Crypto Exchanges:
- Binance P2P: Offers the most competitive rate at GHS 12.23 for buying and GHS 12.24 for selling. When dealing with Binance $1000 will be between GHS12,230 and GHS12,240
- CediConvert: Presents a competitive average rate of GHS 12.25. A $1000 will be GHS12,250
Fintech:
- WeWire Africa: Provides a competitive rate of GHS 12.20 for buying and GHS 12.31 for selling.
- When dealing with WeWire Africa $1000 will be between GHS12,220 and GHS12,310
Forex Bureaus:
- GAFORB: Offers a decent rate of GHS 12.10 on average. $1000 will be GHS12,100.
- AfriSwap: Presents a similar average rate of GHS 12.12. $1000 will be on average GHS12,120
- Express: Offers a slightly lower average rate of GHS 12.12.$1000 will be on average GHS12,120
Money Transfer:
- Wise: Offers the most competitive rate amongst money transfer services at GHS 11.63. A $1000 will be on average GHS11,630
- Remitly: Presents another competitive rate of GHS 11.57. A $1000 will be on average GHS11,570
Commercial Banks:0
- Stanbic Bank: Offers the highest rate amongst commercial banks at GHS 12.17. A $1000 will be on average GHS12,170
- CBG Bank: Offers a competitive rate of GHS 12.02. A $1000 will be on average GHS12020
- GCB Bank: Presents a slightly lower rate of GHS 11.95. A $1000 will be on average GHS11,950
- Access Bank: Offers an average rate of GHS 11.90. A $1000 will be on average GHS11,900
- Other commercial banks offer rates ranging from GHS 11.50 to GHS 11.77. A $1000 will be on average GHS11770
Central Bank:
- Bank of Ghana: Offers the official exchange rate of GHS 11.63 for buying and GHS 11.64 for selling. When dealing with Bank of Ghana, $1000 will be between GHS11630 and GHS11,640
Payment Processor:
- Visa: Charges a significantly higher rate of GHS 12.92, making it the least favorable option. A $1000 will be on average GHS12,920
Key Points to Consider:
- Rates are constantly fluctuating: It’s crucial to compare rates in real-time before making a transaction.
- Fees can make a difference: Consider any additional fees associated with the service, such as transfer fees or platform fees.
- Delivery speed is important: Choose a service that aligns with your desired timeframe for receiving the GHS.
- Reputation matters: Opt for trusted and reliable service providers to ensure a smooth and secure transaction.
By carefully analyzing this information, you can confidently navigate the complex landscape of GHS exchange rates and choose the option that best suits your needs. Remember, the most favorable rate isn’t always the most visible, so research and comparison are key to making the most of your $1000.
READ: Dollar to Cedi Exchange Rates: $1 selling between GHS12.10 and GHS12.92
Disclaimer: The information presented is for informational purposes only and does not constitute financial advice. Please consult with a professional for personalized financial guidance.