Cedi Ranked Fourth Best Performing Currency in Africa at End of 2025
The Ghana cedi closed 2025 as the fourth strongest performing currency in Africa, reflecting a sharp turnaround in its fortunes over the year.
According to Forbes, the cedi’s exchange rate of GH¢10.93 to the US dollar places it among the continent’s most resilient currencies. Tunisia’s dinar emerged as the best performer, trading at 2.90 to the dollar, followed by the Libyan dinar and the Moroccan dirham in second and third positions, respectively.
Botswana’s pula ranked fifth, while the Seychelles rupee, Eritrean nakfa and Swazi lilangeni placed sixth, seventh and eighth. Completing the top 10 were the South African rand in ninth position and the Namibian dollar in tenth.
The World Bank attributed the cedi’s improved performance to a combination of tight monetary and fiscal measures, rising export receipts supported by higher global prices for gold and cocoa, and a marked improvement in investor and market confidence.
Over the course of 2025, the cedi recorded a cumulative appreciation of 27.75% against the US dollar in the retail market. At forex bureaus, the local currency traded at about GH¢12.30 to the dollar, while the Bank of Ghana’s official rate stood at GH¢10.45 to one US dollar.
In its latest Staff Report, the International Monetary Fund noted that the Bank of Ghana has become more active in the foreign exchange market, increasing its role as an intermediary.
“Since programme approval, the BoG has taken an increasingly active role as an intermediary in the FX market on the back of stronger balance of payments inflows,” the Fund stated.
The IMF further indicated that inflows from the Domestic Gold Purchasing Programme have been a major contributor to this development, alongside cocoa proceeds and repatriation requirements on export earnings from the extractive sector.
