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Sending Money to Ghana: What You Should Know

Sending Money to Ghana: What You Should Know

Chale, you dey send Pounds go Ghana? You dey the right side! Ghana's economy be like Kejetia market, always busy. But no yawa, we get the keys you need. Your GBP-to-CEDI rate fit change pass trotro routes, so timing be key. Ever wondered how inflation or UK-Ghana trade dey affect your rates? Or why you fit lose or gain 1,000 CEDI just like that? Keep reading, make we break am down give you.

TL;DR:

  • Local economic factors and trade relations impact GBP-to-CEDI rates.
  • Real-life examples emphasise the need for timing your transfers.
  • Use SendRater.com for accurate rate comparisons.

Sending money from the UK to Ghana involves numerous considerations, not least among which is getting the best exchange rate for your pounds (GBP) to Ghanaian CEDI (GHS). Various factors, including local economic conditions and bilateral trade relations, can affect these rates.

Local Economic Factors: Inflation in Ghana can erode the value of the CEDI against the pound. If Ghana is going through a period of high inflation, you might find that your pounds will get you more CEDI.

Trade Relations: The UK and Ghana have a trade relationship that also influences currency exchange rates. A stronger trading relationship often stabilises exchange rates.

Real-Life Example: Suppose you plan to send 1,000 GBP to Ghana. If you execute the transfer when the rate is favourable, you might get around 14,000 CEDI. But if the rates are not favourable, you might only get 13,000 CEDI. That's a difference of 1000 CEDI—enough for a decent amount of groceries in Ghana.

Action Plan:

  1. Monitor local economic news in both the UK and Ghana.
  2. Use sendrater.com to compare real-time rates before making any transfers.
  3. Plan your transfers around key economic events that might impact exchange rates.
  4. Use our (near) real time comparison tool to explore best money transfer rates to Ghana.

Today's (06 Oct 2024) most favourable exchange rate for sending money from United Kingdom to Ghana in GBP is offered by TransferGo at a rate of 21.35 GHS. Including all the fees the recipients will receive 2,134.57 GHS for your 100 GBP. For other currencies, please visit our rates page.