Ghana Cedis To Naira Exchange Rate Today {Black Market}

The exchange rate between the Ghanaian Cedis (GHS) and the Nigerian Naira (NGN) is of great importance to individuals and businesses that engage in cross-border trade between Ghana and Nigeria.

The Ghanaian Cedis is the currency of Ghana, while the Nigerian Naira is the currency of Nigeria. The exchange rate between these two currencies is determined by market forces and is subject to fluctuations based on various economic and political factors, such as interest rates, inflation rates, political stability, and global economic trends.

In this interactive session, we will discuss the current Ghana Cedis To Naira Exchange Rate Today and provide insights into the factors that influence exchange rates. We will also discuss the implications of exchange rate fluctuations on businesses and individuals engaged in cross-border trade between Ghana and Nigeria.

So, let’s get started and explore the Ghana Cedis to Naira exchange rate today.

Factors That Influence Exchange Rates.

Economic fundamentals

The relative strength of a country’s economy is a major factor that affects its exchange rate. A strong economy, with high growth rates, low inflation, low unemployment, and a stable political environment, will generally lead to a strong currency.

Interest rates: Interest rates are one of the most important factors influencing exchange rates. Higher interest rates tend to attract foreign investors, who will buy the country’s currency to invest in its economy, and this leads to an appreciation of the currency.

Political factors

Political instability or uncertainty can cause currency values to fluctuate. Political events like elections, wars, and changes in government policy can impact the demand and supply of a currency.

Trade and investment flow

The flow of goods and capital in and out of a country affects the demand for its currency. A country that exports more than it imports will experience an increase in demand for its currency, leading to an appreciation of the currency.

Central bank intervention

Central banks can influence exchange rates by buying or selling their own currency in the foreign exchange market. If a central bank wants to depreciate its currency, it can sell its currency and buy foreign currency, and if it wants to appreciate its currency, it can buy its own currency.

Speculation and market sentiment

The exchange rate is also influenced by market sentiment and speculation. If investors believe that a currency will appreciate in the future, they may buy it, causing its value to increase. Conversely, if investors believe that a currency will depreciate, they may sell it, leading to a decrease in its value.

Inflation rates

Inflation rates impact exchange rates because inflation reduces the purchasing power of a currency. Countries with higher inflation rates are likely to have weaker currencies than countries with lower inflation rates.

Natural disasters and other events

Natural disasters, such as earthquakes or floods, can have a significant impact on a country’s economy and, therefore, its exchange rate. Other events, such as terrorist attacks or pandemics, can also impact exchange rates by causing uncertainty and reducing investor confidence.

Ghana Cedis To Naira Black Market Exchange Rate Today

CurrencyBuy RateSell Rate
1 GHS to NGN7585
Ghana Cedis To Naira Exchange Rate Today

The table shows the exchange rate between Ghanaian Cedis (GHS) and Nigerian Naira (NGN) in the black or parallel market. According to the table, one Ghanaian Cedi can be exchanged for 75 Nigerian Naira when buying, and 85 Nigerian Naira when selling.

This means that if someone wants to buy Nigerian Naira using Ghanaian Cedis, they will get 75 Naira for every 1 Cedi they exchange, and if they want to sell Nigerian Naira to get Ghanaian Cedis, they will get 85 Naira for every 1 Cedi. However, it’s important to note that black market exchange rates can fluctuate frequently and may not be as reliable as official exchange rates.

CHECK OUT: CFA To Naira Black Market Exchange Rate Today 2023

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