Source Ghanamediatrend
Business News Ghana
Cedi falls against Dollar as Bank of Ghana releases exchange rates for Thursday, July 24, 2025.
The Ghanaian cedi has experienced a notable depreciation against major international currencies, including the US dollar, British pound, and euro, as per the latest exchange rates released by the Bank of Ghana on July 24, 2025, reflecting the average rates commercial banks used for transactions as of the close of business on Wednesday, July 23, 2025.
According to the data published by the Bank of Ghana, the US dollar is currently being bought at Gh¢10.4948 and sold at Gh¢10.5053.
while the British pound is being bought at Gh¢14.2277 and sold at Gh¢14.2430.
Meanwhile, the euro is being bought at Gh¢12.3067 and sold at Gh¢12.3178.
As of Thursday, July 24, 2025, the Ghanaian Cedi is Gh¢10.45 to the US dollar.
This decline in the cedi's value is likely to have far-reaching implications for the Ghanaian economy. With a weaker cedi, imported goods such as food, fuel, and spare parts are expected to become more expensive, thereby increasing the cost of living for Ghanaians.
Economic experts attribute the falling cedi to a combination of factors, including high demand for foreign currency, low levels of foreign exchange reserves, and Ghana's rising debt.
The Bank of Ghana's response to the cedi's decline will be closely monitored by economic stakeholders and the general public.
Although the central bank has not yet released an official statement explaining the sharp decline in the cedi's value, it is anticipated that they may take measures in the coming weeks to stabilize the currency.
The outcome of these potential actions will have a significant impact on the Ghanaian economy and the lives of its citizens.
The depreciation of the cedi highlights the challenges facing Ghana's economy, including managing inflation, maintaining economic stability, and attracting investment. As the country navigates these challenges, the value of the cedi will remain a key indicator of the economy's performance.
Effective economic management and policy decisions will be crucial in mitigating the effects of the cedi's depreciation and promoting economic growth and stability. The situation underscores the need for careful consideration and strategic planning to address the underlying issues driving the cedi's decline.
The Bank of Ghana routinely updates these rates on its official website and social media platforms to ensure transparency and inform the public. For the most current exchange rate information, visit www.bog.gov.gh
Check out the Daily Exchange Rate by Bank of Ghana on Thursday, July 24, 2025
