The Ghana cedi has come under renewed pressure as demand for foreign exchange continues to outstrip market supply, pushing the local currency into further depreciation. Data gathered by JOYBUSINESS from some major commercial banks shows sustained pressure on the cedi over the past two weeks, with businesses seeking more dollars than the market has been […]
The cedi’s rate of depreciation against the US dollar has slowed significantly in the first week of March 2026. The local currency, which had depreciated by more than 4% earlier in the year based on price quotes by some major commercial banks, has now recorded a much slower depreciation of about 1.65% since the beginning […]
Prices of petroleum products are set to increase marginally from February 16, 2026. That is according to the latest outlook report by the Chamber of Oil Marketing Companies (COMAC), which guides pricing decisions for oil marketing companies and was sighted by Joy Business. This marks the second time fuel prices are projected to rise, largely […]
The cedi has had one of its most dramatic years in recent memory. It opened 2025 at GH₵14.7 to the dollar. By February it had weakened slightly to GH₵15.50 and held there until April, making it one of the longest periods of stability in more than a decade. Then came the surprise. Between April and […]
Consumers are bracing for mixed outcomes at the pumps as global fuel prices decline, but the local currency’s depreciation threatens to offset potential relief. Despite a steady drop in Brent crude prices and refined petroleum product costs on the international market, the Ghanaian Cedi’s 2.18% fall against the U.S. Dollar is keeping fuel prices volatile. […]
The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has given an assurance that the central bank has strong buffers to support the Cedi in spite of the local currency depreciating by 6.8 per cent in the first quarter of the year. He said with the gross international reserves increasing to $6.2 billion […]
The Ghana Union of Traders Association (GUTA) says they have never thrown their support behind the activities of black market operators in the country as being peddled in some sections of the media. They argue that they have been at the forefront of advocating for the Bank of Ghana to clamp down on the activities […]
