The Ghana cedi has made a remarkable recovery in 2025, appreciating by 40.7% against the US dollar within the first seven months of the year, according to the Bank of Ghana’s latest Summary of Economic and Financial Data.
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As of July, the cedi was trading at GH¢10.45 to the dollar on the interbank market, a sharp improvement from the GH¢15 it opened the year with.
The local currency saw strong gains in May and June, appreciating by 43% and 42.6% respectively. It also posted solid performances against other major currencies.
In June and July, it appreciated by 25.6% and 24.2% against the euro, and by 30.3% and 31.2% against the British pound, with the pound now trading at GH¢14.02.
In the last two weeks, the cedi has shown resilience, recording only a marginal 0.47% depreciation and holding at a mid-rate of GH¢10.48 per dollar on the interbank market. However, on the retail market, the rate averages GH¢12.00.
Year-to-date, the cedi has gained 29.38% against the dollar.
Finance Minister Dr. Ato Forson credits the cedi’s rebound to improved macroeconomic indicators, stronger export earnings, and renewed investor confidence.
During the recent mid-year budget review, he noted the appreciation is beginning to reflect in price stability, with minor declines in prices of imported goods.
The government says it is committed to preserving the gains made and ensuring long-term stability of the economy.
