BoG Data Shows Cedi Loses Ground to Dollar, Pound and Euro in January 2026
The cedi depreciated by 4.0% against the US dollar in January 2026, reversing gains recorded in the latter part of the previous year.
According to the Bank of Ghana’s January 2026 Summary of Economic and Financial Data, the cedi traded at GH¢10.88 to the US dollar on the interbank market during the month, compared with GH¢10.45 in December 2025.
The local currency in the retail market was quoted at about GH¢12.00 to the dollar.
The January depreciation comes after a period of relative stability and strong appreciation in 2025. The cedi began 2025 with a 3.9% loss against the dollar, with depreciation extending through February and March before stabilising in April.
In May 2025, however, the currency staged a sharp turnaround, appreciating by about 43% against the dollar from January 1, 2025. The rally was sustained through the remainder of the year, allowing the cedi to close 2025 with a year-to-date gain of 40.7%.
Against other major currencies, the cedi also weakened in January 2026, depreciating by 4.9% against the British pound and 4.1% against the euro.
Data from the central bank showed the currency trading at GH¢14.77 to the pound and GH¢12.80 to the euro on the interbank market during the period.
