The Ghanaian cedi depreciated 0.48% against the US dollar last week, bringing its year-to-date loss to 1.27% just 14 days into 2025.
As of the latest update, one dollar is valued at GH¢15.95.
The local currency closed last week at a mid-rate of GH¢15.68 to one US dollar.
Tue 14 Jan, 2025 • 09:00 AM
💵 1 USD = ₵15.95 🔼
💷 1 GBP = ₵19.60 🔽
💶 1 EUR = ₵16.50 🔽Change money now at these rates (link below)
— CediRates (@CediRates) January 14, 2025
It also saw a 0.62% decline against the euro but managed a slight gain of 0.26% versus the British pound.
As of January 13, 2025, the cedi opened the week at GH¢15.85 to the dollar.
Looking ahead, the Bank of Ghana plans to auction US$20 million to the Bulk Oil Distribution Companies (BDCs) this week, a move that may help ease some of the demand pressure.
However, analysts predict that the cedi will likely remain under significant pressure in the coming days due to persistent strong demand for foreign currency.