GHANA · CURRENCY
Ghana’s cedi traded at 11.70 to the US dollar (GH¢11.70, using the cedi symbol) on Tuesday 10 November 2026, as the state Gold Board (GoldBod), a government gold-trading agency, keeps selling dollars to local banks. That is the interbank mid-rate of the Bank of Ghana, the central bank, the midpoint of the rate at which banks trade dollars with each other.
Forex bureaus, the licensed shops where people change cash, were quoted at roughly GH¢12.15 to GH¢12.25 per dollar. For anyone paying or investing in Ghana, the gap between the two rates is the number to watch.
Key Facts
- Official rate The Bank of Ghana’s mid-rate was GH¢11.70 per US$1 on 10 November 2026.
- Dollar supply The Gold Board sold US$1.011 billion to banks in October and plans US$1.2 billion in November.
- Street rate Forex bureaus quoted about GH¢12.15 to GH¢12.25 per dollar; no official source confirms this.
- Cost Buying US$100 costs about GH¢1,170 at the mid-rate and about GH¢1,225 at a bureau rate of 12.25.
- Not known Whether the Gold Board reaches its November target.
The Gold Board sold US$1.011 billion to banks in October and plans US$1.2 billion in November. Prices at forex bureaus, the so-called street rate, sit about 4% above the official rate.
What the Official Rate Shows
On Tuesday 10 November the Bank of Ghana’s buying rate was GH¢11.6942 and its selling rate GH¢11.7059, a mid-point of GH¢11.70. At that rate one cedi is worth about 8.5 US cents.
Why the Gold Board Matters
The Ghana Gold Board, known as GoldBod, is the state agency that trades gold from small-scale miners. In a statement dated 2 November 2026 it said it had sold US$1.011 billion of foreign currency to authorised commercial banks in October, all of the currency it generated that month from small-scale gold trade.
For November it projects US$1.2 billion in generation, of which US$800 million is set aside for sale to commercial banks. Sales run through GoFX, the Gold Board’s own foreign exchange trading platform, under an approved framework.
The Bank of Ghana signalled earlier that it would step back from supplying foreign exchange to banks in October. The Gold Board then supplied US$1.011 billion to banks in October.
The Street Rate Gap
Bureau selling prices were reported at roughly GH¢12.15 to GH¢12.25 per dollar in recent days, which is about 4% above the official mid-rate of GH¢11.70. A buyer of US$100 at a bureau rate of GH¢12.25 would pay about GH¢1,225, against about GH¢1,170 at the mid-rate, which retail customers rarely get.
The Bank of Ghana does not publish bureau prices, so these quotes are reported, not confirmed by an official source. Treat the range as indicative.
What This Means for US Readers
Americans who pay Ghanaian suppliers, send money or hold cedi assets are exposed to both rates, and the channel they use decides the price. That is why the official rate and the bureau rate are both worth tracking.
The Gold Board’s dollar sales are the figure to follow each month. Our earlier report on how the cedi gained on Gold Board sales shows the same pattern at the end of October.
What Is Not Known
The Gold Board had earlier targeted US$1.5 billion for October and reported selling all US$1.011 billion it generated to banks, so reaching US$1.2 billion in November is not assured. No official source publishes the exact bureau rate, so the GH¢12.15 to GH¢12.25 range stays reported, not confirmed.
What to Watch Next
The Gold Board issued its latest monthly statement on 2 November, so a December statement on November sales would be the next test of its US$1.2 billion goal. Daily rates on the Bank of Ghana’s website show where the cedi trades.
The Bank of Ghana’s Monetary Policy Committee, its rate-setting panel, meets from 16 to 18 November, with its decision due on Wednesday 18 November. It held its main interest rate, the policy rate, at 14.0% in July and September.
More on the sector is in our Ghana coverage, including the report on small-scale gold exports and the row over the Gold Board’s leadership. Both give context for the monthly dollar figures.
Frequently Asked Questions
What is the cedi’s official rate against the dollar?
The Bank of Ghana’s mid-rate was GH¢11.70 per US$1 on 10 November 2026. Its buying rate was GH¢11.6942 and its selling rate GH¢11.7059.
What is GoldBod?
The Ghana Gold Board is a state agency that trades gold from small-scale miners. It sells the foreign currency it earns to commercial banks.
Why is the bureau rate higher than the bank rate?
Bureaus set their own cash prices, and the Bank of Ghana does not publish them. They were reported at roughly GH¢12.15 to GH¢12.25 per dollar, against GH¢11.70 officially.
Sources: Bank of Ghana daily interbank exchange rate, 10 November 2026 (https://www.bog.gov.gh/treasury-and-the-markets/daily-interbank-fx-rates/); Ghana Gold Board announcement of 2 November 2026 (https://goldbod.gov.gh/news/goldbod-supplies-banks-with-us1011bn-in-forex-targets-us12bn-in-november). Bureau quotes come from market rate reports and are unofficial.
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