Cedi Depreciates Further, Ends Week at GH¢11.64 to the Dollar

According to a report by 3News published on October 30, 2026, the Ghana cedi has recorded another depreciation against the United States dollar, ending the week at approximately GH¢11.64 to the dollar, according to the Bank of Ghana’s reference exchange rate.

The latest movement reflects continued pressure on the local currency as businesses and individuals monitor developments in the foreign exchange market.

The Bank of Ghana publishes daily reference rates based on transactions reported by commercial banks. These rates provide an indication of the prevailing interbank exchange rate and are used by businesses and other market participants as a reference when conducting foreign exchange transactions.

The cedi’s performance against the dollar is particularly important to Ghana because the country depends on imports for several essential goods, including fuel, machinery, pharmaceuticals and industrial materials. A weaker cedi can increase the local currency cost of these imports, potentially placing additional pressure on businesses and consumers.

Importers who need dollars to pay overseas suppliers may also require more cedis to obtain the same amount of foreign currency. Depending on how businesses respond, these additional costs can eventually affect prices in the domestic market.

The exchange rate is also closely monitored by investors, financial institutions and policymakers because of its implications for inflation, trade and the country’s broader economic stability.

Although daily movements can reflect short-term changes in foreign exchange demand and supply, the performance of the cedi over a longer period provides a broader picture of the currency’s strength.

The latest depreciation therefore places renewed attention on the foreign exchange market and the measures being pursued to maintain stability.

For consumers and businesses, the key concern will be whether the currency’s movement continues and how it affects the cost of imported goods and other dollar-denominated transactions.

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