The Ghanaian cedi experienced a slight depreciation against the United States dollar as of Tuesday, June 24, 2025, reflecting the dynamic interplay of economic factors influencing currency exchange rates. Data compiled from Cedirates.com, a reliable source for currency and fuel information in Ghana, revealed an average buying rate of GHS10.35 per dollar and a selling rate of GHS11.02. This indicates that individuals acquiring dollars would pay GHS11.02 for each dollar, while those selling dollars would receive GHS10.35. This disparity between buying and selling rates is standard practice in foreign exchange markets, representing the profit margin for currency traders and facilitating market operations.
Forex bureaus, which play a significant role in the retail foreign exchange market, offered slightly different rates. Individuals exchanging dollars for cedis could obtain GHS12.00 per dollar, whereas those converting cedis to dollars would receive GHS12.35 per dollar. This difference reflects the higher operational costs and profit margins associated with forex bureau transactions compared to the interbank market. The interbank market, where banks trade currencies with each other, recorded a buying rate of GHS10.29 per dollar and a selling rate of GHS10.31 per dollar. These rates tend to be more competitive than those offered at forex bureaus due to the larger volumes traded and the lower overhead costs for banks.
The cedi also traded against other major international currencies, including the British pound and the euro. The average exchange rate for the British pound stood at GHS13.73 when converting pounds to cedis and GHS14.60 when converting cedis to pounds. Similarly, the euro traded at GHS11.85 for exchanging euros for cedis and GHS12.59 for converting cedis to euros. These rates demonstrate the relative strength of the pound and the euro against the cedi, reflecting the economic conditions and market sentiment towards each currency. The Bank of Ghana’s interbank market quoted a selling rate of GHS13.91 for the pound and GHS11.89 for the euro. These rates, slightly different from the average market rates, provide a benchmark for interbank transactions.
Money transfer services offered competitive rates for remittances from the US or the UK to Ghana. LemFi provided a rate of GHS10.25 per dollar, while Hurupay offered a slightly more favorable rate of GHS10.18 per dollar. These competitive rates reflect the growing importance of remittance flows to the Ghanaian economy and the increasing competition among money transfer operators to capture market share. For British pound transfers, LemFi offered a rate of GHS13.83 while Afriex provided a rate of GHS16.16. The significant difference between these rates highlights the importance of comparing offers from different providers before initiating a transfer. For euro transfers, Afriex offered a rate of GHS13.86, while LemFi’s rate was GHS11.82 per euro. Again, these varying rates underscore the need for consumers to shop around for the best deals.
Digital subscription payments for services like Netflix, Spotify, and Apple Music, using Visa and Mastercard, were processed at a rate of GHS11.07 per dollar. This rate is slightly higher than the interbank rate but lower than the forex bureau rates, reflecting the specific mechanisms and agreements between payment processors and financial institutions. These rates impact the cost of digital services for Ghanaian consumers and highlight the role of international exchange rates in everyday transactions.
In conclusion, the Ghanaian cedi’s performance against major international currencies on June 24, 2025, showcased the complex factors influencing exchange rate fluctuations. The data from Cedirates.com, forex bureaus, the interbank market, and money transfer operators provides a comprehensive snapshot of the currency landscape. These rates impact individuals, businesses, and the overall economy, highlighting the interconnectedness of global financial markets. Monitoring these rates and understanding their implications is crucial for informed financial decision-making in an increasingly globalized world. This analysis provides a valuable reference point for understanding the cedi’s performance and its implications for various economic actors.
