Audio By Carbonatix
The Ghana cedi lost 2.4% in value to the US dollar in the first month of 2025.
This is compared to a depreciation of 1.3% during the same period last year.
According to the Bank of Ghana, the local currency traded at a rate of GH¢15.06 to the American greenback on the interbank market.
Similarly, the cedi depreciated by 3.0% to the euro on the interbank market, going for GH¢15.69 to one euro.
For the pound, the cedi lost 0.8% in value. It consequently sold at GH¢18.55 to one pound on the interbank market.
As of January 17, 2025, the Ghana cedi had depreciated by 2.94% to the US dollar on the retail market, taking its year-to-date loss to 3.87% since January 2025.
This was due to continued demand pressures from the manufacturing and energy sectors. It also follows the Bank of Ghana auctioning of its first US$20 million to the Bulk Oil Distribution Companies (BDCs).
The cedi’s loss to the American greenback was the sharpest since the beginning of the year.
The local currency thus traded at a mid-rate of GH¢16.15 to one American greenback the prior week.
Latest Stories
-
‘Age is not a limitation’- Boyoyo says as Ghana launches Masters Athletics era with maiden championship in Kumasi
16 minutes -
GPL 2025/26: Eleven Wonders begin second round with 2-0 win over Holy Stars
3 hours -
Mahama orders review of NLA-KGL contract
3 hours -
Tension as hunters are accused of burning farmlands at Kula in N/R
4 hours -
Emirates A380 diverts to Accra amid smoke alert in cargo hold
4 hours -
Support for Bawumia in the north is about competence, not ethnicity – Nitiwul
6 hours -
From BECE to WASSCE: Why are our children failing core mathematics
7 hours -
Newsfile to discuss Mahama’s first term and Ofori-Atta’s ICE detention
7 hours -
Iran protests: ‘People are more angry and determined now’
8 hours -
24-hour economy reforms boost revenue at Ghana Publishing Company – MD
8 hours -
Galamsey: Tano North assembly members blame river pollution on illegal mining, not Newmont
8 hours -
Police arrest 2 more suspects linked to Adabraka jewellery shop robbery
8 hours -
EPA warns businesses to comply with Environmental Protection Act or face sanctions
8 hours -
Ghana Publishing Company was in dire financial straits before new administration – MD
9 hours -
More protests erupt in Iran as supreme leader accuses crowds of ‘trying to please Trump’
9 hours