The Bank of Ghana has released its latest exchange rate figures for Monday, April 20, showing the Ghana cedi trading at 11.0445 to the US dollar on the buying rate and 11.0555 on the selling rate.
For other major currencies, the British pound was buying at 14.9891 and selling at 14.9730, while the euro was trading at 13.0370 on the buying side and 13.0499 on the selling side.
Compared to Friday’s figures, the cedi recorded a slight depreciation. It was then buying at 11.0375 and selling at 11.0485 to the dollar. The pound and euro also saw marginal movements within the same period.
Friday’s rates showed the pound buying at 14.9293 and selling at 14.9453, while the euro was buying at 12.9944 and selling at 13.0050.
Meanwhile, the Governor of the Bank of Ghana, Johnson Pandit Asiama, has previously explained that minor fluctuations in the cedi are normal and should not cause concern. Speaking at a Monetary Policy Committee press conference, he noted that short-term speculative activity can influence the currency’s movement but tends to stabilise over time.
He added that ongoing policy reforms are aimed at ensuring long-term stability in the foreign exchange market.
