US Dollar to Ghanaian Cedi Exchange Rate is projected to go up on Tuesday 24th January 2023. For the first in the year, the Bank of Ghana failed to publish its interbank exchange rates which are published daily.
The question that needs to be answered is why didn’t the Bank of Ghana publish its interbank rates for the day. Doesn’t the BoG have the date to publish the rates to aid informed decision-making by stakeholders?
The inability of the Bank of Ghana to publish the rates can be a clear indication that the Cedi has depreciated more than anticipated for the day.
The US Dollar to Ghanaian Cedi Exchange Rates quoted on Google can serve as a starting point in predicting what is to come.
The rate quoted by Google is $1 to GHS12.40 which had appreciated in favour of the dollar GHS0.10 compared to the rate quoted for 22nd January 2023.
The rates quoted by Forex Bureaus today for the dollar were a buying price of GHS12.40 and a selling price of GHS 13.10.
The rates quoted by the Bank of Ghana have remained far below those quoted by Forex bureaus and banks in Ghana.
In banks, the dollar-to-cedi rate for buying and selling ranges between GHS12 and GHS14.00 while the BoG constantly quotes rates lower than GHS10.50 for buy and sell rates.
Given that the dollar has inched up gradually, it is projected to appreciate further on 24th January 2023. The rates to be quoted by the Bank of Ghana will also appreciate marginally and will show a clear indication of where the cedi is heading.
The pound also appreciated against the cedi. Google quoted an exchange rate of 1 pound to GHS16.36.
| Currency | Buy Rate |
 US Dollar¹ (USD) | 12.40 |
 British Pound (GBP) | 15.00 |
 Euros (EUR) | 12.70 |
READ: New Dollar Exchange Rates and New Fuel Prices as at Sunday 22 January 2023
| Currency | Sell Rate |
| US Dollar¹ (USD) | 13.10 |
| British Pound (GBP) | 16.00 |
| Euros (EUR) | 13.70 |
The rate from Google for instance shows an upward trajectory of the three major currencies and is indicated by a Green line. This means that the various currencies are gaining or appreciating against the local currency.
Watch out for the rates from the Bank of Ghana for 24th January. US Dollar to Ghanaian Cedi Exchange Rate is projected to go up on Tuesday 24th January based on the basic explanations aboves.
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