The Ghanaian cedi has shown signs of improvement, trading at an average rate of ¢12.33 to the US dollar, according to the latest data released by the Bank of Ghana.
The central bank’s official interbank rates for Monday, May 19, indicate the cedi buying at ¢12.3138 and selling at ¢12.3262 to the dollar. This reflects a positive movement compared to previous trading sessions, suggesting easing pressure on the local currency.
Against other major currencies, the cedi is trading at ¢16.3208 to the British pound on the buying side and ¢16.3383 on the selling side. It is also exchanging at ¢13.7161 to buy and ¢13.7285 to sell against the euro.
Experts attribute the cedi’s improved performance to increased foreign currency inflows and sustained interventions by the Bank of Ghana aimed at stabilizing the forex market.
The Bank of Ghana continues to monitor market developments closely and publish daily exchange rate updates to provide transparency and assist businesses and investors in their decision-making.
As the cedi gains ground, it signals cautious optimism for traders and consumers relying on foreign currency exchange in the coming weeks.
