Cedi Posts 40.7% Gain Against Dollar in Seven Months – BoG
The Ghana cedi recorded a substantial appreciation of 40.7% against the US dollar in the first seven months of 2025, according to the Bank of Ghana’s July 2025 Summary of Economic and Financial Data.
Per the data, the local currency was trading at GH¢10.45 to one US dollar on the interbank market by end-July.
The appreciation trend continued through the second quarter, with the cedi posting monthly gains of 43% and 42.6% against the greenback in May and June, respectively.
The cedi also made significant gains against other major foreign currencies. It appreciated by 24.2% to the euro in June 2025, exchanging at GH¢12.25 on the interbank market, while it strengthened by 31.2% against the British pound to sell at GH¢14.02.
Despite a marginal decline in recent weeks, the local unit has largely maintained its stability. The cedi closed trading last week at a midrate of GH¢10.48 per US dollar on the interbank market, representing a slight depreciation of 0.47%.
On the retail forex market, the cedi is currently quoted at a midrate of GH¢12.00 to the dollar.
Its year-to-date appreciation as of July 30, 2025, stands at 29.38%.
The cedi’s strong performance so far this year has been attributed to improved foreign exchange inflows, tight monetary policy, and renewed investor confidence in Ghana’s macroeconomic outlook.
