Ghana’s Cedi Makes Africa’s Top Four as Dollar Ranking Reveals Surprising Position

Ghana’s cedi has been ranked as Africa’s fourth most valuable currency against the United States dollar, placing it behind the Tunisian dinar, Libyan dinar and Moroccan dirham.

The ranking, reported by 3News, highlights the cedi’s position among African currencies based on their nominal exchange rates against the dollar.

According to the report published on November 2, 2026, the Ghanaian currency was trading at approximately GH¢11.65 to one US dollar, following an October ranking compiled using the Forbes currency calculator.

Tunisia occupies the first position, with its dinar trading at approximately 2.98 to the dollar. Libya follows with its dinar at 6.39, while Morocco’s dirham ranks third at approximately 9.81.

Ghana’s position makes the cedi the highest-ranked currency from West Africa in the reported list, ahead of several other currencies across the continent.

However, the ranking does not necessarily indicate that Ghana has Africa’s fourth strongest economy or that the cedi has experienced the continent’s fourth best performance.

The report explains that the classification is based on the number of units of each currency required to purchase one US dollar. It is therefore a measure of nominal exchange-rate value rather than a comprehensive assessment of economic performance.

Despite its position in the ranking, the cedi reportedly lost approximately 10 per cent of its value against the dollar during 2026.

The currency ended 2025 at approximately GH¢10.45 to the dollar on the interbank market, according to Bank of Ghana data cited in the report.

The development follows a historic performance in 2025, when the cedi recorded its first annual gain against the dollar in three decades.

Bank of Ghana Governor Dr Johnson Asiama has also attributed the currency’s broader recovery to improvements in external reserves.

The latest ranking provides another perspective on Ghana’s currency performance, while highlighting the importance of distinguishing between nominal exchange-rate value and overall economic strength.

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