If you have dollars that you wish to exchange for some cedis, it’s normal to want to do that at the banks in Ghana with the highest dollar exchange rate on offer so you are not shortchanged. The fact is that many banks offer different rates and most often, people looking to change their dollars aren’t able to compare these rates to make a choice.
That is what this article seeks to help with. We bring to your knowledge some of the banks with some of the highest rates in Ghana to exchange your dollars at.
Top Banks in Ghana with highest dollar exchange rate
Since the dollar to cedi rate keeps fluctuating under the obvious market circumstances, this list will be based on rates provided by these banks on their websites or other publicly available platform for a chosen date.
1. First National Bank Ghana
First National Bank Ghana received a universal banking license from the Bank of Ghana in 2015 and opened its first branch in Accra that same year.
On 30th June 2020, First National Bank Ghana concluded the merger with the erstwhile GHL Bank with the name of the merged entity remaining as First National Bank Ghana. The newly formed and strengthened entity offers a portfolio of unique innovative financial solutions for retail, corporate and investment banking clients.
The bank leads our list of Banks with highest dollar exchange rate. The rate as at 28th October, 2022 is:
BUYING: 1USD for GHC13.05
SELLING: 1USD for GHC14.05
2. Fidelity Bank Ghana
Fidelity commenced business in October 1998 as a Discount House. Fidelity Discount House attracted a rich client base and was noted for its innovative and attractive investment product offerings, making her the discount house of choice.
With the quality of services offered, customers requested a deeper and richer business relationship, making it logical to move into the banking sector. On the 28th of June 2006, Fidelity obtained a universal banking license. Fidelity Exchange rate as at 28th October was:
BUYING: 1USD for GHC12.6
SELLING: 1USD for GHC14.1
3. Societe Generale Bank
Societe Generale Bank was incorporated as a private limited liability company with the name Security Guarantee Trust Limited and was solely owned by the Social Security and National Insurance Trust (SSNIT).
Through the years, the bank has seen mergers and change in ownership, finally changing its name to Societe Generale in 2013.
SG-SSB Bank as it was known is among the list of banks in Ghana with the highest dollar to cedi exchange rates. As at 28th October 2022, Societe Generale Bank had the following dollar exchange rate:
BUYING: 1USD for GHC12
SELLING: 1USD for GHC14
While this list is certainly not exhaustive, it provides some information that you can base on to compare with other rates offered and also provides an indication of the comparative rates.
We are still hunting for financial institutions offering better dollar rates and we will update this list as and when we come across such institutions or the information is made available to us at Loansgist.com
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