Business

Dollar-to-Cedi Exchange Rate Up: $1 Sells for GHS15.26

Dollar-to-Cedi Exchange Rate Goes Up: $1 Sells for GHS15.26

The Dollar-to-cedi Exchange Rate Has Gone Up Today Again As The Continous Depreciation Of The Cedi Goes On Forever.

At the start of business today, $1 was selling for GHS15.26 per the average price quoted by Google.com.

The dollar is selling between GHS15.35 and GHS15.96 today.

Bank Dollar to Cedi rates quoted by banks and other fintech companies and made public by cedirates.com are as follows:

Dollar-to-Cedi Exchange Rate Goes Up: The table shows the buy and sell rates from various firms:

The data on the dollar to cedi selling price released by the banks are as follows: Stanbic Bank – 15.42, GCB Bank – 15.50, Absa Bank – 15.45, Fidelity Bank – 15.45, and GTBank – 15.48.

Check the full data below.

Name	Buying	Selling
LemFi	15.00	–
Afriex	15.02	–
Binance P2P	15.98	15.96
Remitly	15.47	–
Western Union	15.35	–
CBG Bank	15.10	15.60
Revolut	15.06	–
Access Bank	15.00	–
Stanbic Bank	14.95	15.42
GCB Bank	14.90	15.50
Absa Bank	14.85	15.45
Fidelity Bank	14.85	15.45
GTBank	14.82	15.48
Sendwave	14.80	–
Zenith Bank	14.78	15.47
CalBank	14.60	15.58
Wise	14.54	–
Bank Of Ghana	14.53	14.55
UBA	14.50	15.45
WorldRemit	14.49	–
Ecobank	14.35	15.35
OA Pay	14.30	–
Standard Chartered	–	15.50
Visa	–	16.42
Mastercard	–	16.42

READ: Bring Dollar Down to GHC10 in 2 Weeks or Face Demonstration

How much is $100 US in Ghana?

US Dollar to Ghanaian Cedi

USD	GHS
100 USD	1525.84
500 USD	7629.21
1,000 USD	15258.42
5,000 USD	76292.10

The continuous depreciation of the cedi has serious implications for businesses, individuals, and the economy as a whole.

Prices of imported goods increase as a result of the cedi’s value falling. This increases the cost of such goods on the local market, as well as reducing the real goods and services that ordinary Ghanaians can buy.
The fall of the cedi against its major trading currencies, like the dollar, influences nearly everything we buy and sell in Ghana, increasing the cost of living as the dollar appreciates against the local currency.
Savings lose value over time because such funds can no longer buy the same goods they could have earlier on. A fall in the value of the cedi leads to a rise in prices, and your savings can no longer buy such goods unless you spend more on the same quantity.
Purchasing foreign currency becomes more expensive as the exchange rate rises. Ghanaians who have to pay fees, buy from foreign online shops, or pay for services in dollars online have to pay more in cedis terms.
Businesses face higher operational costs.
Because the dollar is depreciating, travel abroad costs more.
Inflation rates rise, creating more problems for the citizens and the local economy.
Loans in foreign currency become harder to repay.