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Ghana cedi depreciates against USD, GBP, Euro: Latest BoG rates for Sept 3

Ghana cedi depreciates against USD, GBP, Euro: Latest BoG rates for Sept 3
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Ghana cedi to dollar exchange rates today: Latest Bank of Ghana rates
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Ghana cedi weakens against the dollar, pound and euro in latest BoG rates.
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Dollar buying rate rises to GH¢11.3343, while pound and euro reach GH¢15.2991 and GH¢13.1379.
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The latest figures signal renewed pressure on the cedi.
The latest figures, based on average interbank exchange rates used by commercial banks at the close of business on Wednesday, 2 September, show the US dollar trading at a buying rate of GH¢11.3343 and a selling rate of GH¢11.3457.
The mid-rate stands at GH¢11.3400.
The pound sterling is quoted at GH¢15.2991 for buying and GH¢15.3155 for selling, with a mid-rate of GH¢15.3073.
The euro, meanwhile, is trading at GH¢13.1379 for buying and GH¢13.1509 for selling, giving a mid-rate of GH¢13.1444.
Euro [MoroccoWorldNews]
The latest movement marks a reversal from the previous day’s rates, when the cedi had been trading at GH¢11.2669 to the dollar on the buying side and GH¢11.2781 on the selling side.
The dollar has therefore gained GH¢0.0674 on the buying rate and GH¢0.0676 on the selling rate in the latest update. Its mid-rate has also risen from GH¢11.2725 to GH¢11.3400, an increase of GH¢0.0675.
The cedi has also weakened against the pound. The pound’s buying rate has risen from GH¢15.2396 on September 1 to GH¢15.2991, representing an increase of GH¢0.0595. Its selling rate has moved up from GH¢15.2559 to GH¢15.3155, a difference of GH¢0.0596.
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The euro has recorded a similar movement. Its buying rate has increased from GH¢13.0610 to GH¢13.1379, representing a rise of GH¢0.0769. The selling rate has also climbed from GH¢13.0739 to GH¢13.1509, an increase of GH¢0.0770.
Overall, the latest figures show the cedi losing ground against all three major international currencies tracked in the update.
For businesses and individuals who depend on foreign currency, the movement could have implications for the cost of imports, overseas payments, travel and other transactions linked to the dollar, pound and euro.
The latest Bank of Ghana figures highlight renewed pressure on the cedi after the currency traded at lower levels against the three major currencies in the previous update.
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Originally published on www.pulse.com.gh


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