Reports indicate that the Ghanaian cedi has surpassed GH¢16 to the US dollar for the first time in 2025, showing signs of ongoing volatility in the currency market.
According to data from cedirates.com, some forex bureaus are now selling $1,000 for as much as GH¢16,200.
Although the cedi has shown slight improvements against major trading currencies, particularly the dollar, since October 2024, the currency has once again faced challenges in the foreign exchange market.
The Bank of Ghana’s official rates, updated at 8:00 AM on January 14, 2025, placed the buying rate at GH¢14.79 and the selling rate at GH¢14.80. Meanwhile, the British pound is being traded at GH¢17.99 (buying) and GH¢18.01 (selling), while the euro is exchanging at GH¢15.10 (buying) and GH¢15.12 (selling).
A further check at 8:20 AM on the same day revealed that the cedi was trading at GH¢15.85 to the dollar at various forex bureaus.
The pound was being bought for GH¢19.70, and the euro was priced at GH¢16.60.
To combat the cedi’s depreciation, the Bank of Ghana took significant measures, including selling over $200 million in the final quarter of 2024.
Despite these efforts, the cedi’s volatility continues to affect the local economy and its citizens.
BREAKING: $1 has crossed 16 cedis for the first time in 2025.
You need ₵16,200 to get $1,000 now at forex bureaus. Contact forex bureaus using the link in replies. pic.twitter.com/rasAkRTJCm
— CediRates (@CediRates) January 14, 2025
