Ghana’s Cedi Sees Marginal Increment Against Major Currencies

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Cedi Dollar
Cedi Dollar

As of Friday, January 24, the Bank of Ghana’s exchange rates indicate a slight increase in the value of the Ghanaian Cedi.

The Cedi was buying at 15.1124 to the U.S. Dollar and selling at 15.1276.

These rates represent a marginal increment over the figures recorded on Thursday, January 23.

For the Pound Sterling, the rates were 18.6291 for buying and 18.6493 for selling, while the Euro was buying at 15.7234 and selling at 15.7378.

These figures show a marginal rise compared to the previous day’s rates, reflecting ongoing fluctuations in the currency market. This comes as President John Dramani Mahama addressed the newly appointed Finance Minister, Dr. Cassiel Ato Forson, stressing the public’s expectation for him to stabilize the Cedi and reduce inflation.

In his comments on Wednesday, January 22, following the swearing-in ceremony, Mahama emphasized that Ghanaians are looking to Dr. Forson to bring the national debt to sustainable levels and create more economic stability. “They expect you to reduce inflation, make life more comfortable, and stabilize our currency,” Mahama said.

 

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