Cedi deeps $1 sells for GHS14.10 : Exchange rates for today out

Forex Bureau Rates for Dollar-Cedi exchange as of 7 am on 26th Apr 2024 was $1  for GHS14.10 as the cedi deeps and loses another 5 pesewas. On Thursday, the cedi was exchanged for a dollar at GHS4.05.

The continuous depreciation of the cedi daily is also visible with all other currencies.

While the dollar is selling at GHS14.10, the Pound is selling at GHS17.30, and the Euro is selling at GHS14.90.

The Canadian dollar, Swiss Franc, and Naira are selling at GHS12.00, GHS15.00, and GHS14.00 respectively.

While the  West African CFA² (XOF) is selling at GHS22.50, the South African Rand (ZAR) is worth GHS1.10

When the cedi keeps losing value, it means things become more expensive for everyone in Ghana, especially for those who earn a fixed amount of money, like many ordinary workers.

This makes it harder for them to afford the things they need, like food, clothing, and transportation.

As prices go up, their income stays the same, so they have less money to spend on other important things, like education and healthcare. This can make life much harder for them and their families.

The cedi can appreciate against the dollar and other foreign currencies but that will not be easy given that, in 2024 alone in the first quarter, the cedi has lost 12% of its value.

Appreciation will occur when the value of the cedi strengthens relative to the dollar, meaning it takes fewer cedis to buy one dollar.

Several factors can contribute to this, including improvements in the country’s economy, increased foreign investment, higher export earnings, and effective monetary policies.

However, exchange rates can be influenced by many unpredictable factors, so it’s challenging to predict future movements with certainty.

Full details of exchange rates for today as Cedi deeps and sells at $1 sells for GHS14.10

 

Currency	Sell Rate
US Dollar¹ (USD)	14.10
British Pound (GBP)	17.30
Euros (EUR)	14.90
Canadian Dollar (CAD)	12.00
Swiss Franc (CHF)	15.00
Naira² (NGN)	14.00
South African Rand (ZAR)	1.10
West African CFA² (XOF)	22.50

READ: All Exchange Rates For Today As Dollar to Cedi Rate Crosses GHS14.00

Currency	Buy Rate
US Dollar¹ (USD)	13.80
British Pound (GBP)	16.80
Euros (EUR)	14.40
Canadian Dollar (CAD)	11.00
Swiss Franc (CHF)	14.00
Naira² (NGN)	9.00
South African Rand (ZAR)	0.40
West African CFA² (XOF)	20.50