Audio By Carbonatix
The Ghana cedi is anticipated to remain broadly stable in the coming months.
According to Fitch Solutions, this reflects robust external buffers, with international reserves having risen to a near-record US$7.9 billion in April 2025, equivalent to around 4.0 months of import cover.
The UK-based firm also said that the build-up in reserves has been supported by strong exports and historically high gold prices amid heightened geopolitical risks and central bank gold purchases.
“Combined with the authorities’ stated preference for a stronger exchange rate, we expect that the Bank of Ghana (BoG) will keep the currency broadly stable over the remainder of the year, helping to limit imported inflation”, it alluded.
Meanwhile, the cedi has appreciated by about 30% to the US dollar since January 1. 2025.
It is presently going for GH¢12.00 to one American dollar in the retail market.
On the interbank market, the local currency is selling GH¢10.40.
In a related development, the cedi closed June 2025 at GH¢10.35/US dollar on the interbank market (-0.9% month-on-month) after a sharp correction-driven rally in the prior two months.
Amidst a surge in foreign exchange demand from offshore investors, corporates, and local banks adjusting to the new currency-matched Cash Reserves Ratio rules, the Bank of Ghana increased foreign supply by 84.4% month-on-month to US$1.7 billion to anchor the US Dollar Ghana cedi pair, albeit changing from 2-day to 7-day forward sale and tapering the volumes in the final 2-weeks.
Latest Stories
-
Ex-NEIP CEO Kofi Ofosu Nkansah’s home searched by NIB over scholarship sale allegations
3 minutes -
Mahama reaffirms Ghana’s commitment to transparency ahead of APRM peer review
14 minutes -
You won’t be left behind – Gender Minister assures unemployed graduates with disabilities of gov’t commitment to jobs
14 minutes -
Former UNAIDS Executive Director urges media to bring NTDs out of the shadows
16 minutes -
Ghana engages Afreximbank to advance strategic minerals development
29 minutes -
NDC sticks with Baba Jamal for Ayawaso East By-election despite vote-buying probe
38 minutes -
Give retired pastors key roles to play in government – Prophet John Anokye
42 minutes -
UniMAC External Affairs Officer attends 24th GUPS First General Assembly Meeting
44 minutes -
Iran is a threat to Middle East stability – Israeli Ambassador to Ghana
48 minutes -
Mahama inaugurates NAPRM Governing Council ahead of historic ‘Second-Generation’ Peer Review
55 minutes -
WUSC–ACTIVATE Project equips over 200 youth with practical agriculture skills in Asante Mampong
1 hour -
IMANI brief: Ghana’s 24-hour economy needs systems, not new authorities
1 hour -
Tems becomes first African female artiste to have 7 entries on Billboard Hot 100
1 hour -
Gov’t declares Wednesday as ‘Fugu Day’ to promote Ghanaian heritage
1 hour -
Interior Ministry trains police officers on Armoured Bullion Vehicle operations
1 hour
