Cedi Weakens Further in March, Depreciates 7.56% on Average Against Major Currencies
Ghana’s cedi continued its slide in March, posting an average depreciation of 7.56% against the US dollar, British pound, and euro, according to the Bank of Ghana’s (BoG) latest economic and financial data report.
The local currency lost 5.3% against the dollar, 8.2% against the pound, and 9.2% against the euro during the month, deepening concerns over exchange rate stability.
This marked a sharp acceleration from January’s depreciation rates of 2.4%, 0.8%, and 3% against the dollar, pound, and euro, respectively.
While the cedi’s performance in March 2025 showed some improvement compared to the same period last year, its trajectory remains uncertain.
The currency had ended 2024 with full-year depreciation rates of 19.2% against the dollar, 17.8% against the pound, and 13.7% against the euro.
As of the end of March, the cedi was trading at GHS 15.53 per US dollar, GHS 20.03 per British pound, and GHS 16.75 per euro, underscoring persistent volatility amid macroeconomic headwinds and external pressures.
