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Ghana: Money

Volume 472: debated on Friday 7 March 2008

To ask the Secretary of State for International Development pursuant to the Answer of 1 February 2008, Official Report, column 721W, on Ghana: money, what the exchange rate was on each transfer; how many Ghana new cedis were received for each; what commission was paid on each transfer; which exchange institution or bank was used for each; and what the purpose was of each. (192692)

Pursuant to the answer of 1 February 2008, Official Report, column 721W, the exchange rates used and cedi equivalents for transactions are noted in the following table.

Standard Chartered Bank is used for all transactions, with transfers from sterling to Ghana new cedis agreed on a no commission basis. Each payment was used to fund local expenditure through the DFID Ghana office.

Value (£)

Exchange rate (GHS to £) used

Amount in new Ghana cedis (GHS)

7 August 2007

100,000

GHS 1.8750

187,500.00

13 September 2007

125,000

GHS 1.8880

236,000.00

5 November 2007

170,000

GHS 1.9850

337,450.00

12 December 2007

83,000

GHS 1.9850

164,755.00

9 January 2008

100,000

GHS 1.9100

191,000.00