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 Bank of Ghana (BoG) has assured businesses and commercial banks that it has enough dollar reserves to meet market demand despite renewed pressure on the cedi in recent weeks. The Central Bank said its Foreign Exchange Intermediation Programme would continue to be guided by “data and market developments” and not sentiment. The assurance follows […]
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 […]
The Ghana cedi is recovering modestly on external tailwinds and sentiment. Over the past fortnight, the cedi encountered mild demand-driven pressures in the opening week, as anticipated. However, it clawed back losses in the latter half as broad-based “sell America” sentiment underpinned external support. In the interbank market, the cedi appreciated by 0.09% against the […]
Cedi records one of its strongest performances; one dollar equals GH¢12.10 at forex bureaux. The Ghana cedi posted one of its strongest performances in recent months over the two-week review period. This was supported by improved market sentiment and steady central bank interventions. It appreciated to GH¢10.85 per US dollar (+9.68%), GH¢14.42 per pound (+10.00%), […]
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 […]
Former Kumbungu MP Ras Mubarak has criticised GoldBod CEO Sammy Gyamfi for gifting dollars to evangelist Patricia Asiedua, popularly known as Agradaa, warning that such actions could destabilise the local currency and undermine economic confidence. In a Facebook post, Mubarak argued that Gyamfi’s gesture—captured in a viral video—sends a negative signal about the cedi’s strength, […]
The Ghanaian currency has continued to strengthen the trend against the US dollar and all the other major foreign currencies. The cedi in the last two weeks has been on a path of resurgence against all the major trading currencies. The local currency is currently trading at ¢8 to a dollar on the interbank market. […]
The local currency has enjoyed a good run against its major trading partners in the first month of the year — appreciating against all the three major currencies, the dollar, euro and pound sterling, according to data released by the Bank of Ghana. The cedi, which depreciated against all the three currencies last year, has […]
The Minister of Finance, Ken Ofori-Atta, has stated that the cedi is performing better under the Nana Addo administration. He explained that the cedi recently suffered some turbulence despite the strong economic fundamentals and improvement in the country’s balance of payments, which the government achieved in the last two years. “It is also noteworthy that […]
Satirist and actor, Kwaku Sintim-Misa popularly known as KSM is blaming the free fall of the local currency, the cedi to the dollarization of the Ghanaian economy. According to him, the mere fact that almost every important service provided in the country is quoted in dollars is reason enough for the dollar to remain superior […]
The Managing Editor of Insight Newspaper, Kwesi Pratt Jnr. has pooh-poohed on government’s planned injection of some 800 million dollars to cushion the local currency, the Cedi to curtail its rapid depreciation against the major trading currency, the US Dollar. The free-fall of the local currency has become a major source of concern to various […]
