The 1-month currency chart (see image below) shows a consistent downward trend in the USD/GHS rate — a clear indication of the cedi’s rebound on the forex market.
“We’re beginning to see results from the efforts put in place by the Bank of Ghana and the Ministry of Finance,” an economist at the University of Ghana told Asaaseradio.
The appreciation comes at a time when inflationary pressures are beginning to ease, and Ghana is seeing improved export earnings from cocoa, gold, and oil.
Key Drivers of the Cedi’s Strength:
•Improved forex inflows from international development partners and exports.
•Tighter monetary policy by the Bank of Ghana.
•Restructured debt talks under the IMF program showing positive signs.
•Stronger consumer and investor confidence since the beginning of Q2 2025.
Market Reaction:
Financial analysts advise cautious optimism, as global market uncertainties and oil price fluctuations still pose risks.
“This isn’t a time to celebrate just yet, but it’s a positive signal for businesses and households alike,” noted a currency trader in Accra.
What’s Next?
If current policies remain consistent, the cedi may continue its gradual recovery. However, economic watchers remain focused on:
•Inflation trends
•Import demand
•External debt servicing pressure
•Performance of Ghana’s key export sectors
