The depreciation of the Ghana cedi stood at 9.5% in the interbank market as of September 2026.

This was the same rate of depreciation in July 2026, but is compared with 18.45 appreciation during the same period in 2025.

According to the September 2026 Summary of Economic and Financial Data by the Bank of Ghana, the cedi traded at GH¢11.55 to one American greenback in September 2026.

This is compared with GH¢12.42 during the same period in 2025.

In January, the cedi depreciated by 4.6% to the US dollar, but gathered momentum in February 2026, losing 2.2% in value to the American greenback.

The losing streak continued, depreciating by 5.0% and 6.6% in March 2026 and April 2026, respectively.

The cedi continued to depreciate by approximately 8.4% against the US dollar in the interbank market in May 2026 and further by 7.9% in June 2026 and 10.6% in July 2026, respectively. It also depreciated by 7.1% in August 2026, but better than in July 2026.

Similarly, in the retail market, the local currency has lost about 8% in value against the US dollar since January 1, 2026.

It is presently selling at GH¢12.20 to one American greenback at the forex bureaus.

Meanwhile, the cedi depreciated by 9.0% and 7.3% respectively to the pound and euro in the interbank market in September 2026.

Cedi to End Year at GH¢12.20

Databank Research had earlier forecasted that the Ghana cedi will end the year at GH¢12.20 to a US dollar.

This was after revising its earlier forecast downwards by 65 basis points.

According to the research market firm, its decision is due to stronger foreign exchange inflows and an improving external position.

In its half-year economic outlook, it stated that the 30% Gold Off-Take Mandate under GoldBod, supported by the increase in its budget allocation from GH¢4.5 billion to GH¢5.0 billion, should boost gold mobilisation and support reserve accumulation.