Cedi surges 24.1% against dollar in May 2025 – Bank of Ghana

The Ghana cedi has appreciated significantly in 2025, gaining 24.1% against the US dollar by May, according to the Bank of Ghana.

This marks a strong recovery compared to a 5.3% loss recorded in the first quarter of the year. By May 2025, the cedi was trading at GH¢11.85 to the dollar on the interbank market.

In April alone, the cedi rose by 3.9% against the greenback.

Moreover, the cedi strengthened across other major currencies. It appreciated by 14.1% against the euro, trading at GH¢13.33, and gained 16.2% against the British pound to sell at GH¢15.74.

Weekly performance was also positive. Last week, the cedi gained 2.3% week-on-week against the dollar, pushing its year-to-date gain to 17.7% in the retail market. It also gained 3.5% against the pound and 3.7% against the euro.

This robust performance followed a strategic intervention by the Bank of Ghana, which injected $425.5 million into the retail market.