Audio By Carbonatix
The Ghana cedi has begun 2026 under renewed pressure, depreciating by an average of about four per cent against major international currencies in the opening weeks of the year.
Data from the Bank of Ghana’s January 2026 Summary of Economic and Financial Data show the cedi trading at GH¢10.88 to the US dollar on the interbank market, compared with GH¢10.45 at the close of December 2025. This represents a depreciation of roughly four per cent over the period.
The local currency also weakened against other key trading currencies. It lost about 4.9 per cent against the British pound and 4.1 per cent against the euro, trading at GH¢14.77 to the pound and GH¢12.80 to the euro on the interbank market.
Movements across the foreign exchange market have been mixed over the past two weeks. In the retail segment, sustained demand pressures saw the cedi trading at around GH¢12.00 to the US dollar.
Over the same period, the dollar edged up from GH¢11.90 to GH¢12.15, while the pound and the euro strengthened further, closing at approximately GH¢16.30 and GH¢14.20, respectively.
Analysts attribute the January depreciation to seasonal foreign exchange demand, portfolio rebalancing at the start of the year, and the cedi’s sensitivity to global financial conditions.
Despite the slide, the scale of the decline is considered modest compared with the strong performance recorded in 2025.
The Bank of Ghana has maintained a cautious policy stance and continues to monitor foreign exchange market developments, with attention now focused on whether the early-year weakness will ease in the coming months or signal a more sustained adjustment following last year’s sharp appreciation.
The recent softening contrasts sharply with developments in 2025, when the cedi staged a notable recovery. After early losses in the first quarter, the currency rebounded strongly from April, gaining about 43 per cent against the dollar by May and ending the year with a cumulative appreciation of 40.7 per cent, supported by improved confidence, stronger foreign exchange inflows and tighter policy coordination.
Latest Stories
-
Gridlock as governance failure: A long-term policy framework for Accra’s traffic crisis
2 minutes -
Jannik Sinner becomes youngest player to win all six ATP Masters 1000 hard court tournaments
4 minutes -
MTN FA Cup: Kelvin Nkrumah headlines Medeama’s win over Attram De Visser
5 minutes -
Tema Ladies Open aims to attract global participation and promote women’s golf
21 minutes -
Princess Burland boosts 12-year-old entrepreneur’s beauty brand after Women of Valour event
32 minutes -
Nursing student wins GH¢50,000 jackpot in ‘Wotiriye’ lottery
42 minutes -
Annoh-Dompreh accuses government of suspending cocoa purchases nationwide
45 minutes -
Today’s Front pages: Monday, March 16, 2026
51 minutes -
Cloudflare, Comsec host cybersecurity seminar to strengthen Ghana’s digital defences
1 hour -
E&P’s bid for Damang Mine could mark historic shift toward Ghanaian ownership in large-scale mining
1 hour -
Autonomy for Controller and Accountant-General’s Department critical for fiscal Governance – CAGD Workers Union
2 hours -
MML’s MoMo transactions hit GH¢4.1trn in digital finance surge
2 hours -
Ofori-Atta ready to fight possible US extradition – Frank Davies
2 hours -
Annoh-Dompreh, Dr Yaw Opoku lead week-long Minority visit to cocoa farmers in Ashanti Region
2 hours -
Know the taxes abolished in Ghana
2 hours
