Cedi moves from GH¢16.10 to GH¢16.20 against a dollar at forex bureaus
As of March 14, 2025, the Ghanaian cedi has experienced a slight depreciation against the US dollar in forex bureaus, moving from GH¢16.10 to GH¢16.20 per dollar.
Forex Bureau Rates
At forex bureaus, the cedi is trading at GH¢15.75 for those exchanging dollars for cedis and GH¢16.15 for those converting cedis to dollars.
Interbank Rates
On the interbank market, the cedi is trading at GH¢15.52 for buying dollars and GH¢15.54 for selling dollars.
Historical Context
Over the past week, the cedi-to-dollar exchange rate has fluctuated between a high of 0.065 on March 7, 2025, and a low of 0.065 on March 10, 2025.
Government's Economic Measures
In response to these economic challenges, Finance Minister Cassiel Ato Forson has announced plans for significant spending cuts to revitalize the economy. The government aims to achieve a GDP growth of at least 4% and reduce the inflation rate to 11.9% by the end of the year.
Conclusion
The recent depreciation of the cedi underscores the need for effective economic policies to stabilize the currency and promote sustainable growth. The government's commitment to fiscal discipline and structural reforms is crucial in addressing these economic challenges.
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