The Ghanaian Cedi has experienced a notable appreciation against major international currencies, particularly the United States dollar, as of April 24, 2025. This positive trend is reflected across various exchange platforms, including forex bureaus, the interbank market, and digital money transfer services. Cedirates.com, a reliable source for currency information in Ghana, reports a buying rate of GHS15.22 per dollar and a selling rate of GHS15.69. This implies that individuals can acquire one US dollar for GHS15.22 and sell one dollar for GHS15.69. This appreciation signifies strengthening of the Cedi and a potential decrease in the cost of imported goods and services denominated in US dollars.
At forex bureaus, locations where individuals can exchange currencies directly, the Cedi is trading at slightly different rates. Those looking to exchange US dollars for Cedis can obtain GHS15.60 for each dollar, while those converting Cedis to dollars will receive GHS15.95 for each Cedi. This slight difference, known as the spread, represents the profit margin for the forex bureaus. The interbank market, where financial institutions trade currencies amongst themselves, offers even more competitive rates. The buying rate for the US dollar stands at GHS15.34, and the selling rate is GHS15.36. This tighter spread reflects the larger volumes of currency traded in this market.
The Cedi’s strengthening trend extends to other major currencies as well. Against the British pound, the average exchange rate at forex bureaus is GHS20.12 for buying pounds and GHS20.89 for selling pounds. Similarly, the Euro is trading at GHS17.18 for buying and GHS17.94 for selling. On the Bank of Ghana interbank market, the rates are slightly different, with the Pound selling at GHS20.36 and the Euro trading at GHS17.42. These variations in rates across different platforms underscore the importance of comparing rates before conducting currency exchanges to obtain the most favorable terms.
Digital money transfer services like LemFi and Afriex provide competitive exchange rates for remittances from the US and the UK to Ghana. For dollar transfers, LemFi offers a rate of GHS15.34 per dollar, while Afriex offers GHS15.40. For pound transfers, LemFi’s rate is GHS20.30, and Afriex’s rate is GHS20.52. Regarding Euro transfers, Afriex offers GHS17.56 per Euro, and LemFi provides a rate of GHS17.45 per Euro. These platforms often offer lower fees and faster transfer speeds compared to traditional banking methods, making them attractive options for individuals sending money to Ghana.
The rates for digital subscriptions using Visa and Mastercard, such as Netflix, Spotify, and Apple Music, are pegged at GHS16.42 per dollar. This slightly higher rate compared to other exchange platforms likely incorporates processing fees and other charges associated with international transactions. Consumers subscribing to these services should be aware of this rate difference and factor it into their budgeting decisions.
In summary, the Ghanaian Cedi has appreciated against major international currencies, including the US dollar, the British pound, and the Euro. This positive development is reflected across various exchange platforms, including forex bureaus, the interbank market, and digital money transfer services. While the specific exchange rates vary slightly depending on the platform and the direction of the currency conversion, the overall trend indicates a strengthening Cedi. This favorable exchange rate environment can potentially benefit Ghanaian consumers by reducing the cost of imported goods and services, facilitating international trade, and encouraging foreign investment. Individuals engaging in currency exchange should compare rates across different platforms to secure the most advantageous terms for their transactions. The continuing performance of the Cedi will be a key factor in Ghana’s economic outlook and will be closely monitored by businesses, consumers, and policymakers alike.
