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
-
Scrap 15% priority placement quota for SHS admissions – GNAPS
12 minutes -
IFC Managing Director Makhtar Diop to visit Ghana for investment talks
18 minutes -
GPRTU opposes auctioning broken-down vehicles after 21 days
45 minutes -
Nigerian Goodnews Aina crowned J30 Accra champion as Ghana’s Gwendolyn Duvor Klu retires in final
3 hours -
WACCE urges gov’t to declare state of emergency in galamsey-prone areas
3 hours -
NACOC boss calls for practical cross-border action against drug trafficking
3 hours -
Ghana calls for stronger regional cooperation to combat drug trafficking
4 hours -
Ablakwa presents bicycles to 100 North Tongu day students
4 hours -
Ablakwa supports 2,269 North Tongu SHS students with essential items
4 hours -
Dr Bawumia expresses sympathy with farmers over their inability to sell their produce even at reduced prices
4 hours -
Constitutional review: Govt must keep discussions open – Dr Tandoh
4 hours -
GPL 2026/27: David Gyamfi hat-trick fires Ashantigold to historic first victory
4 hours -
Ericsson celebrates 150 years of global innovation, 30 years of partnership and digital transformation in Ghana
5 hours -
Ghana’s Ambassador to Serbia hosts African ambassadors’ September meeting in Belgrade
5 hours -
Ghana closer to terrorism threat than ever before – WACCE
5 hours