Audio By Carbonatix
The Ghana cedi depreciated by 3.1% to the US dollar in July 2026, reversing most of its June 2026 gain.
This took its year-to-date loss to 10.4% in the interbank market.
According to market analysts, the foreign exchange demand rebounded in July 2026 after June’s retreat, partly due to energy and other imports.
With Eurobond payment (US$700 million) and June’s US$811 million forex intervention trimming gross foreign reserves by US$1.2bn to USD$12.9bn, IC Insights expects the Bank of Ghana to continue its regular intermediation albeit with constrained intervention capacity.
This will leave the cedi to a slight downside risk in August 2026.
Meanwhile, the cedi is going for about GH¢12.42 in the retail market. In the interbank market, it is trading at GH¢
According to the Bank of Ghana, the cedi depreciated by approximately 8.4% against the US dollar in the interbank market in the first five months of 2026.
The poor performance has been due to sustained import demand and cautious forex supply conditions, with sentiment influenced by recent financial position concerns of the Bank of Ghana.
Latest Stories
-
Mahama dissolves governing boards of BOST, VALCO, CBG, GNPC and five others
3 minutes -
Jeffrey Nortey touches down in Amsterdam ahead of Ghana Party in the Park performance
6 minutes -
Tiger Woods to change plea after crash arrest
7 minutes -
Wa West Assembly meets to drive development; chiefs demand cabinet representation and infrastructure
10 minutes -
Criminals publish data of 8.7m people after airports hack
10 minutes -
Ghana Water insists its treated water is safe despite heavy metal concerns over galamsey
10 minutes -
High Court dismisses application to strike out charges in Mustapha Abdul-Hamid case
21 minutes -
Ghana Horticulture Expo 2026 opens Thursday to drive investment in agriculture
31 minutes -
Fisheries Minister warns LBCs against overpricing, hoarding of premix fuel
37 minutes -
Military to prevent illegal dumping and squatting at cleared Jamestown site
38 minutes -
Walewale MP launches GH¢1m fund to support women, small businesses
42 minutes -
US Navy carrier Abraham Lincoln arrives in Thailand after 286 days at sea
46 minutes -
‘Protect us or we’ll protect ourselves’ – A-Plus warns government over deadly Gomoa clashes
54 minutes -
Police arrest 68 suspects, seize 835 devices in Interpol cybercrime operation
56 minutes -
Okuapeman and Mount Sinai SHSs closed after violent clash, fire destroys school facilities
57 minutes