The Ghanaian cedi is expected to remain relatively stable in the coming weeks, buoyed by improved market sentiment following a staff-level agreement between the Government of Ghana and the International Monetary Fund (IMF) under the Economic Credit Facility (ECF) programme.
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Last week, the cedi held firm at GH¢16.00 to the US dollar on the retail market, maintaining its year-to-date depreciation at 2.36%. It also saw a slight 2.25% decline against the euro but remained steady against the British pound.
Analysts suggest that the recent IMF agreement could further stabilize the currency, reinforcing investor confidence.
The Bank of Ghana played a key role in calming depreciation pressures by injecting $178.2 million into the market. In March 2025 alone, it supported the foreign exchange market with $264.4 million, helping the cedi maintain stability at around GH¢15.5 to the dollar.
With continued central bank intervention and improved foreign liquidity, the local unit started this week unchanged at GH¢16.00 to the dollar, suggesting a stable near-term outlook.
