The pace of the Ghana cedi’s depreciation eased over the past two weeks, with both the interbank and retail markets recording modest declines. On the interbank market, the cedi closed at GH¢12.40 to the US dollar, down 2.02% from GH¢12.15. This marks a sharp slowdown compared to the 6.17% fallContinue Reading
The Canada-Ghana Chamber of Commerce has expressed serious concerns about the recent sharp appreciation of the Ghanaian cedi, warning that the sudden surge in value is negatively impacting exporters and could have far-reaching consequences for the country’s trade and investment landscape. Speaking in an exclusive interview with Joy Business duringContinue Reading
From ending 2024 at $1 to GH₵14.70, the cedi has appreciated nearly 30% in the first five months of this year, currently trading at $1 to GH₵10.30. That’s the strongest level the cedi has reached in over two years, and the sharpest appreciation over this period since 2010. This veryContinue Reading
Ghanaian actor Van Vicker, has given plaudits to President John Dramani Mahama for stabilising the Ghanaian cedi. In a post he made on his Facebook page on May 28, 2025, the actor urged Ghanaians to acknowledge the President for the appreciation of the cedis against the dollar. “Mr. President, IContinue Reading
The Ghana cedi gained 6.25% week-on-week against the dollar in the retail market, cementing its position as the best currency among a basket of 15 Sub-Saharan African currencies. This took its year-to-date gains against the American greenback to 16.29%. It traded at a mid-rate of GH¢13.60 to one dollar atContinue Reading
The cedi has been rated among the world’s best-performing currencies in recent weeks, drawing praise from businesses and policymakers alike. However, a new policy discussion paper by the Centre for Policy Scrutiny (CPS), titled ‘Ghana’s Cedi Holds Steady – But Can the Calm Last?’, cautions that this impressive run mayContinue Reading
Gold price fell nearly 2% to a two-week low on Thursday May 1, 2025, as signs of easing trade tensions boosted risk appetite and reduced bullion’s safe-haven appeal, while a stronger U.S. dollar also weighed on prices. Spot gold was down almost 2% to $3,222.66 an ounce, after hitting itsContinue Reading
The Ghana cedi started this week on a weaker note after strengthening against the US dollar last week amid a weakening US dollar Index. It depreciated slightly against the American greenback in the retail market, going for GH¢16.00. This culminated in a year-to-date depreciation of 2.36%. It is, however, unclearContinue Reading
The Ghana cedi lost 0.48% to the dollar last week, increasing its year-to-date loss to 1.27% with just 13 days into 2025. Cedi loses grounds against dollar, but records gain against pound; one dollar equals GH¢15.85 The local currency closed closing at a mid-rate of GH¢15.68 to one American greenback.Continue Reading
The cedi is projected to close 2025 around GHȼ 17.70 with a potential deviation of ± GHp20. This forecast by Databank Research suggests a relatively stable foreign exchange market this year, supported by key economic and market drivers. Databank Research in its 2025 Ghana Market Outlook, attributes the cedi’s expectedContinue Reading