Cedi Trades at GHS13.60 Forex, GHS12.41 Interbank Rate

 On September 27, 2025, the Ghanaian cedi traded at different rates across various market segments, reflecting ongoing fluctuations in the country’s forex market.

 The cedi was sold at GHS13.60 per US dollar in the forex market, while it exchanged at GHS12.41 per US dollar on the interbank market. 

This significant difference between the forex market rate and the interbank rate indicates a widening spread, which is often a signal of liquidity challenges and market imbalances.

 The forex market rate, being higher, suggests that buyers in the parallel or open market are paying more cedis to acquire one US dollar compared to commercial banks trading among themselves on the interbank platform.

The cedi’s depreciation on the forex market aligns with broader economic pressures, including inflationary trends and external demands for foreign currency.

 Businesses and individuals who rely on the forex market for their dollar needs are facing a higher cost, which could filter through to increased prices for imported goods and services.

Conversely, the interbank rate at GHS12.41 per dollar is generally considered more stable and is the reference rate used for many official transactions by banks and financial institutions.

 The Bank of Ghana’s interventions and monetary policies are often focused on maintaining stability in the interbank market to prevent extreme volatility.

Market analysts suggest that the widening gap could persist unless there are improvements in forex availability and increased confidence in the Ghanaian economy. 

For now, businesses that can access dollars at the interbank rate have a cost advantage over those restricted to the higher forex market rate.

The ongoing dynamic in forex trading underscores the importance of sustained economic reforms and effective currency management to stabilize the cedi and support Ghana’s financial market resilience.