The cedi has depreciated slightly against major trading currencies
The Ghana cedi opened the first week of February 2026 trading at GH¢10.97 to the US dollar on the Bank of Ghana’s interbank foreign exchange market.
According to data released by the central bank on Wednesday, February 4, 2026, the US dollar was quoted at a buying rate of GH¢10.96 and a selling rate of GH¢10.97, reflecting a relatively narrow spread on the official market.
Other major currencies posted modest movements. The euro traded at GH¢12.94 on the buying side and GH¢12.96 on the selling side, while the pound sterling was quoted at GH¢15.01 for buying and GH¢15.03 for selling.
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However, rates at forex bureaus remained significantly higher, underscoring continued pressure on the local currency. The US dollar was being bought at GH¢11.50 and sold at GH¢11.90, a much wider margin compared to the Bank of Ghana’s interbank rates.
The euro traded between GH¢13.30 and GH¢14.20 at the bureaus, while the pound sterling ranged from GH¢15.40 to GH¢16.30.
These elevated bureau rates point to strong demand for foreign currency amid constrained supply, a pattern commonly observed at the beginning of a new financial year as businesses increase import-related transactions.
Meanwhile, the Bank of Ghana is expected to sustain its market interventions in the months ahead to curb excessive volatility and stabilise the cedi.
Market participants will also be closely monitoring upcoming monetary policy decisions, as well as external inflows, for signals on the near-term outlook of the local currency.
Exchange Rates:
Bank of Ghana interbank market rates:
– Dollar: Buying at GH¢10.96, Selling at GH¢10.97
– Pound: Buying at GH¢15.01, Selling at GH¢15.03
– Euro: Buying at GH¢12.94, Selling at GH¢12.96
Forex bureau rates:
– Dollar: Buying at GH¢11.50, Selling at GH¢11.90
– Pound: Buying at GH¢15.40, Selling at GH¢16.30
– Euro: Buying at GH¢13.30, Selling at GH¢14.20
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