The Bank of Ghana has released the official exchange rates for major foreign currencies on Wednesday, May 28, 2025. These rates are used by commercial banks in Ghana to buy and sell foreign currencies.
According to the Bank, the rates are based on the average interbank exchange rates from Tuesday, May 27, 2025. The interbank rate is the rate at which banks trade foreign currencies among themselves. These rates help determine how much people and businesses will pay when they want to change Ghana cedis into foreign money or vice versa.
Here are the latest exchange rates:
US Dollar (USD):
Buying Rate: ¢10.2949
Selling Rate: ¢10.3052
British Pound (GBP):
Buying Rate: ¢13.9155
Selling Rate: ¢13.9305
Euro (EUR):
Buying Rate: ¢11.6731
Selling Rate: ¢11.6837
This means if someone wants to exchange their US dollars for Ghana cedis, the bank will buy the dollar at ¢10.2949. However, if the person wants to buy dollars from the bank, it will cost ¢10.3052 per dollar. The same process applies to the pound and the euro.
The slight difference between the buying and selling rates is known as the “spread.” This helps the banks to cover their costs and make a small profit.
The Bank of Ghana regularly updates these rates to reflect changes in the global financial market. People are advised to always check the latest rates before doing any foreign currency transactions.
These exchange rates are very important to importers, exporters, travelers, and anyone doing business with people outside Ghana.
The Bank of Ghana was established in 1957 and serves as the country’s central bank. It is responsible for maintaining the stability of the Ghanaian currency and ensuring a sound financial system.
