According to the central bank's data for Wednesday, May 14, 2025, the average rate at which commercial banks traded the U.S. Dollar on the interbank market closed on Tuesday, May 13, 2025, with a buying rate of ₵12.5937 and a selling rate of ₵12.6063.
For the British Pound Sterling, the average interbank rates were recorded at ₵16.7383 for buying and ₵16.7576 for selling.
The Euro's average interbank rates stood at ₵14.0788 for buying and ₵14.0926 for selling at the close of Tuesday's trading session.
These published rates represent the aggregated average of transactions between commercial banks in the foreign exchange market. They serve as a key reference point for market participants and the public regarding the Cedi's valuation against these globally traded currencies.
The Bank of Ghana is the sole issuer of the Ghanaian Cedi and is mandated with the overall control and supervision of the banking and financial system in the country. It plays a crucial role in managing monetary policy, including maintaining stability in the foreign exchange market. The daily publication of these rates is part of its efforts to ensure transparency in the market. The interbank market is where banks exchange currencies with each other, forming the foundation for retail exchange rates offered to individuals and businesses.
The rates effective for Wednesday, May 14, 2025, are derived from the actual trading activity that occurred up to the end of the business day on Tuesday, May 13, 2025.
I truly appreciate you spending your valuable time here. To help make this blog the best it can be, I'd love your feedback on this post. Let me know in the comments: How could this article be better? Was it clear? Did it have the right amount of detail? Did you notice any errors?
If you found it valuable, please consider sharing it.