The Ghanaian cedi demonstrated stability against major international currencies, particularly the US dollar, in the week ending June 20, 2025. According to Cedirates.com, a reliable source for currency information in Ghana, the average exchange rate for the US dollar hovered around GHS10.37 for buying and GHS11.05 for selling. This indicates a relatively narrow spread between the buying and selling rates, suggesting a balanced market dynamic. Forex bureaus, which cater to individual transactions, presented slightly higher rates, with the dollar fetching GHS11.80 when exchanging dollars for cedis and GHS12.00 for the reverse transaction. This difference reflects the typical premium charged by forex bureaus to cover their operational costs and profit margins. The overall stability against the dollar suggests a positive economic outlook and a well-managed monetary policy.
The performance of the cedi against the British pound and the euro mirrored the stability observed against the dollar. For the British pound, average exchange rates were recorded at GHS13.78 for those acquiring cedis with pounds and GHS14.63 for those converting cedis into pounds. Similarly, the euro traded at GHS11.83 when exchanging euros for cedis and GHS12.62 for the opposite transaction. These rates, similar to the dollar exchange rates, demonstrate a reasonable equilibrium in the market for these currencies. The relatively controlled fluctuations suggest a consistent demand and supply dynamic, further reinforcing the stability of the cedi.
Interbank market rates, which reflect transactions between financial institutions, offered a more favorable exchange rate for both the US dollar and the euro. The dollar traded at GHS10.29 for buying and GHS10.31 for selling, indicating a tighter spread compared to the forex bureau rates. This minor difference is typical, as interbank transactions involve larger volumes and lower operational costs. The euro, on the interbank market, traded at GHS11.82, which was marginally lower than the average exchange rate observed in the wider market. The pound traded at GHS13.84 on the interbank market. These interbank rates provide a benchmark for the overall currency market and influence the rates offered by other exchange providers.
Money transfer operators, specializing in remittances, presented competitive exchange rates for those sending money to Ghana from abroad. LemFi and Hurupay, two prominent players in the remittance market, offered rates of GHS10.25 and GHS10.30 per dollar, respectively, for transfers originating from the US or the UK. These rates were generally more favorable than those offered by forex bureaus, making these platforms a cost-effective choice for remittances. This competition within the money transfer sector benefits consumers by providing more options and driving down transaction costs.
For transactions involving the British pound, LemFi offered a rate of GHS13.79, closely aligned with the market average. Afriex, another remittance provider, provided a slightly higher rate of GHS16.14. This difference highlights the variability in rates offered by different money transfer operators and underscores the importance of comparing rates before making a transaction. For euro transfers, Afriex offered a rate of GHS13.79 while LemFi’s rate stood at GHS11.80 per euro. The significant difference between these rates suggests potential variations in fees or exchange rate margins employed by the respective operators.
Digital subscriptions, an increasingly popular expense for many Ghanaians, also have dedicated exchange rates. For services like Netflix, Spotify, and Apple Music, payments made using Visa and Mastercard were processed at an exchange rate of GHS11.07 per dollar. This rate falls within the broader range of dollar exchange rates observed in the market. The consistent application of this rate across different platforms streamlines the payment process for digital subscriptions and provides transparency for consumers.
In summary, the Ghanaian cedi displayed resilience and stability against major international currencies during the week of June 20, 2025. The relatively narrow spreads between buying and selling rates, particularly for the US dollar, indicate a balanced market and a positive economic outlook. The interbank market provided the most favorable exchange rates, followed by money transfer operators who offer competitive options for remittances. Forex bureaus, while offering slightly higher rates, still provided accessible points for currency exchange. Finally, the standardized exchange rate for digital subscriptions simplifies international payments for popular online services. This overall stability of the cedi is a positive sign for the Ghanaian economy and contributes to consumer confidence.
