The Cedi is selling at 11.6501 to a Dollar as of Thursday, December 28. It is being bought at GHc11.6385 to a dollar per the Bank of Ghana rate.
It can be purchased for GHc14.8949, but it is selling for GHc14.9110 per pound. It is purchased at 12.9431 and sells for GHc12.9559 to the Euro.
According to the BoG, these numbers reflect the typical interbank rates that commercial banks used for transactions as of Wednesday, December 27, 2023, at the close of business.
Prior to this, Finance Minister Ken Ofori-Atta said the exchange rate has stabilised while praising the economic recovery.
After the government successfully concluded the first review of the three-year, $3 billion International Monetary Fund External Credit Facility (IMF-ECF) programme, Mr. Ofori-Atta said the country had turned the corner in terms of the economic difficulties.
On Wednesday, November 15, he presented the 2024 budget statement to Parliament and said, “We turned the corner when we completed the IMF first review.”
The government will “maintain stability and keep growing. and ensure increased growth, currency stability,” he added.
He continued, “Inflation started to decline from 54 1 in December 2023 to 35.2 in October 2023, which is when we turned the corner.
He went on to say, “The recovery is real and it’s here to stay.”
Mr. Ofori-Atta went on to say that the ongoing economic recovery is primarily due to the swift implementation of aggressive fiscal and monetary policy measures during the past year and in the first half of 2023.
“Thus far, 2023 growth has exceeded expectations in resiliency, inflation has decreased in accordance with fundamentals, the external and fiscal balances have improved, and the exchange rate has stabilised,” he stated.