Exchange Rate in Ghana
Ghana - Exchange Rate
Ghanaian cedi gains strength in October
In recent weeks, the Ghanaian cedi (GHS) has strengthened somewhat against the U.S. dollar. On 5 October, the currency traded at 3.71 GHS per USD. The result was 2.50% stronger than on the same day of the previous month but still 15.4% weaker on an annual basis. The cedi has lost over 15.0% of its value since the beginning of the year.
The recent appreciation of the currency reflects expectations of increased foreign inflows in the last quarter of the year as well as the government’s plans to reduce spending. The cedi strengthened considerably after the country concluded the sale of a USD 1.0 billion Eurobond earlier this month. Moreover, there is hope that the IMF will disburse more money to the government, which will in turn ease demand pressure on the market.
While the cedi’s appreciation in October has helped to pull down inflationary pressures, the Central Bank considers that inflationary pressures are still quite elevated, mainly due to the high volatility in the exchange rate market. The Bank has also declared that the robust interbank intervention will continue in the future in a bid to support the weak currency.
LatinFocus Consensus Forecast panelists expect the cedi ending this year at 3.99 GHS per USD. Next year, the panel sees the currency trading at 4.41 GHS per USD.
Ghana - Exchange Rate Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | 2.20 | 3.20 | 3.81 | 4.30 | 4.54 |
Ghana Exchange Rate Chart
Source: Thomson Reuters
Ghana Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 4.90 | 0.0 % | Jan 14 |
| Stock Market | 0.1 | 0.0 % | Jan 14 |
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Economic News
Ghana: Inflation ticks up in December
January 9, 2019
Consumer prices rose 1.1% in monthly terms in December, up slightly from November’s 0.7% uptick.
Ghana: PMI jumps in December
January 4, 2019
The Stanbic IBTC Bank Ghana Purchasing Managers’ Index (PMI) rose from 50.5 points in November to a six-month high of 52.3 points in December.
Ghana: Growth picks up steam in the third quarter
December 19, 2018
According to provisional data released by Ghana’s Statistical Service, the economy expanded 7.4% in annual terms in the third quarter, a one-year high and up markedly from the 5.4% growth logged in the second quarter.
Ghana: Inflation falls to a new over five-year low in November
December 12, 2018
Consumer prices rose 0.7% in November, unchanged from the previous month’s print.
Ghana: PMI ticks up in November
December 5, 2018
The Stanbic IBTC Bank Ghana Purchasing Managers’ Index (PMI) rose from 50.2 points in October to 50.5 points in November.
© Copyright: 2019 | Ghana Exchange Rate | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed ...
