Cedi appreciates against US dollar from GH¢11.75 – 10.94 in one week
The Ghana Cedi appreciated significantly against the United States dollar over the past week, strengthening from an interbank buying rate of GHS11.75 on August 10 to GHS10.94 on August 17, according to Bank of Ghana daily exchange rate data.
The Ghanaian cedi experienced a notable appreciation against the US dollar over the past week, surging from an interbank buying rate of GH¢11.75 on August 10 to GH¢10.94 on August 17, according to Bank of Ghana exchange rate data. This represents an increase of approximately 6.9 percent within seven days. The dollar's interbank buying rate initially rose to GH¢11.7641 on August 11 before falling to GH¢11.73 on August 12.
The cedi subsequently strengthened, with the dollar's buying rate dropping to GH¢11.34 on August 13 and further to GH¢10.97 on August 14. By the first trading day after the weekend, August 17, the rate had declined to GH¢10.94, marking its lowest point during the review period. The dollar's interbank selling rate mirrored this trend, falling from GH¢11.77 on August 10 to GH¢10.96 on August 17.
The cedi also saw appreciation against other major international currencies during the same period. The pound sterling's interbank buying rate declined from GH¢15.86 on August 10 to GH¢14.83 on August 17, while the euro dropped from GH¢13.59 to GH¢12.67. Data further revealed relatively narrow buying and selling spreads across the major currencies, indicating stable conditions in the interbank foreign exchange market.
These figures highlight the cedi's broad-based appreciation against the dollar, pound sterling, and euro during the week under review.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
