Cedi Weakens Against Dollar as Bank of Ghana Releases Daily Exchange Rates for August 28, 2025

                    Source     Ghanamediatrend 

 Business News      Ghana 

Cedi Weakens Against Dollar as Bank of Ghana Releases Daily Exchange Rates for August 28, 2025

The Ghanaian cedi has recorded a fresh depreciation against the US dollar as the Bank of Ghana released its daily exchange rates for Thursday, August 28, 2025.

These figures are the average interbank rates used by commercial banks for their transactions at the close of business on Tuesday, August 27, 2025.

According to the figures, the cedi weakened further against the major trading currencies, reflecting persistent pressure on the local currency amid high demand for foreign exchange.

The new rates showed the dollar gaining more strength as businesses and importers continue to demand forex to settle international obligations.

However, the figures published by the Bank of Ghana on Thursday, August 28, 2025, the dollar closed at a buying rate of GH¢11.0445 and a selling rate of GH¢11.0555, reflecting a slight but steady rise compared to the previous day’s performance. 

This movement signals continued demand for the greenback as businesses, importers, and investors turn to the dollar for international transactions.

The British pound sterling also posted gains against the cedi, trading at GH¢14.8780 on the buying side and GH¢14.8940 on the selling side. The pound’s performance has been attributed to renewed investor confidence in the UK’s economic resilience amid global market uncertainties, further intensifying the strain on Ghana’s local currency.

Similarly, the euro strengthened to GH¢12.8192 for buying and GH¢12.8308 for selling, adding to the pressure facing the cedi. Analysts note that fluctuations in energy prices across Europe and stronger-than-expected economic data have supported the euro’s rebound.

Currency experts suggest that the cedi’s continuous depreciation, although moderate in Thursday’s trading, could increase inflationary pressures as import costs rise. 

This comes at a time when traders and analysts have expressed concerns over the cedi’s consistent decline, which has implications for prices of goods and services on the market.

Economic observers have called for stronger fiscal measures to stabilize the currency, stressing the need to boost exports, strengthen reserves, and reduce over-reliance on imports.

The Bank of Ghana has, however, assured the public that it will continue to monitor the market closely and implement policies to restore stability.

With the end of the month approaching, market watchers will be keenly observing how the cedi performs in the coming days as the exchange rate directly impacts inflation and the cost of living.

Check out the Daily Exchange Rate Released by Bank of Ghana on Thursday, August 28, 2025