Ghana’s local currency, the cedi, has opened the week relatively stable on the interbank market, but a widening spread between official and retail foreign exchange rates is raising fresh concerns about underlying demand pressures
Data from the Bank of Ghana shows the interbank rate for Tuesday, February 24, 2026, at a buying price of ₵10.89 and a selling price of ₵10.90 to the US dollar, compared to Monday’s opening level of ₵10.96.
However, conditions in the retail forex market tell a different story.
At forex bureaus, the dollar is trading at an average of ₵11.80, significantly above the official interbank rate.
However, conditions in the retail forex market tell a different story.
At forex bureaus, the dollar is trading at an average of ₵11.80, significantly above the official interbank rate.
As a result, higher retail forex prices can feed directly into the cost of imported goods, amplifying cost-push inflation pressures.
The caution here is that, a sustained spread between official and retail rates may also create uncertainty for investors seeking predictability in exchange rate management.
Market Outlook
This week, attention will focus on whether interbank rates gradually adjust upward to narrow the gap or whether improved liquidity conditions ease pressure on bureau rates.
With commercial banks currently selling the dollar at ₵11.55 above the central bank’s rate but below bureau levels, the market appears to be signalling upward pressure on the official rate.
How the Bank of Ghana manages liquidity in the coming days will be key in determining whether the cedi sustains its interbank stability or faces renewed depreciation pressures in the broader market.
Dollar to cedi exchange rate today – February 24, 2026
BoG rate
USD – Buying [₵10.89] Selling [₵10.90]
GBP – Buying [₵14.70] Selling [₵14.72]
EUR- Buying [₵12.85] Selling [₵12.86]
Forex Bureaus [Average]
USD = ₵11.80
GBP = ₵16.10
EUR = ₵14.00
Banks rate [Average]
USD = ₵11.55
GBP = ₵15.55
EUR = ₵13.58