The conversion rate between the U.S. dollar (USD) and the Ghanaian cedi (GHS) tells us how many cedis you can get for one U.S. dollar, or the other way around. The rate can change because of different economic factors like supply and demand, interest rates, inflation, political stability, and other financial indicators in both the United States and Ghana.
Below is a table of Dollar to Cedi rates according to BoG
To determine the current conversion rate:
Financial Institutions: Many banks and financial institutions provide current foreign exchange rates on their websites or at their branches.
Currency Converter Tools: Numerous online currency converter tools can quickly provide the current rate. Examples include XE.com, OANDA, and many financial news websites.
Forex Markets: If you have access to a forex trading platform, you can see real-time exchange rates that traders are using to buy and sell currencies.
Central Bank: The central bank of Ghana might have official rates listed, though keep in mind that actual market rates might differ from the central bank’s rate.
News Outlets: Financial news outlets often provide daily or even hourly updates on major currency pairs, including USD/GHS.
If you want to convert a specific amount from USD to GHS:
Find the current exchange rate.
Multiply the amount in U.S. dollars by the exchange rate to get the equivalent amount in Ghanaian cedis.
For example, if the conversion rate is 6 GHS to 1 USD and you want to convert 50 USD:
50 USD × 6 = 300 GHS
This means 50 U.S. dollars would be equivalent to 300 Ghanaian cedis at that particular exchange rate.