#Ghana's central bank has raised the interest rate by 300 bps to 22%.
#Ghana currency rates free#
The Cedi has in recent times been on a free fall with exchange rate nearing GH₵11 to a US dollar at some forex bureaus. Similarly, non-food inflation increased to 31.3 percent from 29.1 percent in June 2022, contributing 55 percent to the rise in headline inflation in July 2022”. "Food inflation rose to 32.3 percent in July 2022 from 30.7 percent in June 2022. This was driven by both food and nonfood price pressures. It also said, "The latest consumer price index release showed that the headline inflation accelerated further for the eleventh consecutive month to 31.7 percent in July 2022, from 29.8 percent in June 2022. The Central Bank after an emergency meeting on August 17, 2022, to address the hike in inflation rates increased the policy rate.Ī BoG statement read in part, "Under the circumstances, and considering the risks to the inflation outlook, the Committee decided on a 300 basis points increase in the Monetary Policy Rate to 22 percent."
#Ghana currency rates install#
GHA must mothball its central bank & install a currency board, NOW,” Professor Hanke tweeted. The cedi has depreciated by ~41% against the USD since Jan. “#Ghana's central bank has raised the interest rate by 300 bps to 22%. In his view, the government must institute a currency board to check the rate of depreciation. The professor who has been measuring the rate of the currency depreciation for a number of countries said per his own analysis, the Ghanaian currency had depreciated by 41% against the United States dollar since January 2020. In a Twitter post on August 18, Professor Hanke said he was not surprised at the Bank of Ghana’s decision to increase the policy rate from 19% to the current 22%. NB: Bigger dollars (currency) rates varies to Smaller dollars.Professor of Applied Economics at the Johns Hopkins University, Steve Hanke, has reiterated that the fast-depreciating Ghana Cedi remains a junk currency. The Ghana Association of Bankers Monday released the following average inter-bank exchange rates of the cedi (local currency) to the dollar and derived rates for other major foreign currencies. Here are the estimated rates for forex bureau agents in Ghana Access the official Bank of Ghana Website.While the USDGHS spot exchange rate is quoted and exchanged in the same day, the USDGHS forward rate is quoted today but for delivery and payment on a specific future date.
The weighted exchange rate is published on the Bank of Ghana website, as the closing rate for the day’s transactions. The USDGHS spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the GHS.
#Ghana currency rates how to#
How to check dollar to cedi Exchange rates The best rate to send Ghana Cedi from British Pound to your loved ones in Ghana is currently offered by Wise their 1 GBP to GHS exchange rate today is 11.9215. However, if you are buying from the black market, expect to buy between GH¢ 10.40 – 10.70 to 1$. The Official Bank of Ghana exchange rate today is GH¢ 8.30 to 1 Dollar. Ghana.Gov Website Online Portal Ghana Exchange Rate Today The exchange rate today is GH¢ 9.10 is equivalent to $1. The Ghana Cedi to Dollar sells at an official rate of GH¢ 10.70 per $1.įoreign currency exchange rates are not stable and one would need to check for updates here frequently as changes occur.
How to check dollar to cedi Exchange rates.
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