1 Dollar in Cedis Now
Current Exchange Rate
As of the current date, the exchange rate between the United States Dollar (USD) and the Ghanaian Cedi (GHS) is constantly fluctuating. However, I can provide you with the latest available exchange rate.
1 USD to GHS
According to the latest exchange rate, 1 USD is approximately equal to 5.85 GHS. This rate may change rapidly due to market forces, so it's essential to check for updates regularly.
Historical Exchange Rate
To give you a better understanding of the exchange rate trend, here's a brief historical overview:
- 1 year ago: 1 USD ≈ 5.40 GHS
- 5 years ago: 1 USD ≈ 3.90 GHS
- 10 years ago: 1 USD ≈ 1.90 GHS
As you can see, the Ghanaian Cedi has experienced a significant depreciation against the US Dollar over the years.
Factors Affecting Exchange Rate
Several factors contribute to the exchange rate fluctuations between the USD and GHS:
- Inflation rate: A high inflation rate in Ghana can decrease the value of the Cedi.
- Economic performance: Strong economic growth in the United States can increase the value of the Dollar.
- Political stability: Political instability in Ghana can lead to a decrease in investor confidence, causing the Cedi to depreciate.
- Interest rates: Changes in interest rates by central banks can influence the exchange rate.
Conclusion
In conclusion, as of now, 1 USD is approximately equal to 5.85 GHS. However, please note that exchange rates can change rapidly, so it's crucial to stay updated with the latest rates for your transactions.
