Bank of Ghana reports strong cedi gains in 2025 currency review
The Bank of Ghana has announced that the Ghana cedi has strengthened considerably in 2025 recording a remarkable appreciation against the US dollar over the first 11 months of the year. According to recently released data the local currency climbed nearly 32.2 percent on the interbank market while remaining strong despite retail market pressures.
The improvement reflects a combination of increased foreign exchange inflows resilient export earnings and disciplined monetary policy. The central bank highlighted that gains from gold and cocoa exports together with inflows from diaspora remittances have contributed significantly to improved forex reserves and cedi stability.
As of late November, the interbank rate stood at about GH¢11.12 per US dollar a significant improvement from earlier in the year. While the retail rate remains slightly higher the gains have bolstered investor confidence and offered hope of lower import costs and improved purchasing power for Ghanaians.
Economists say the appreciation could benefit sectors reliant on imported inputs including manufacturing retail fuel and technology. Households may experience some relief in costs of goods and services if the trend persists. However, analysts caution that sustaining the gains will depend on ongoing fiscal discipline stable foreign exchange inflows and sound export performance.
Central bank officials have stressed that their approach remains cautious. Though the cedi has gained value the bank signals readiness to use liquidity management tools to prevent overheating. They also noted global economic volatility commodity price fluctuations and potential external shocks as risks that could reverse gains if not managed prudently.
For businesses the currency appreciation may offer opportunities. Importers might enjoy lower foreign currency costs while manufacturers could import raw materials more cheaply improving profit margins. Exporters though may face challenges as cedi strength could make Ghanaian goods less competitive abroad. Experts suggest policy calibrations to protect export industries while leveraging the lower cost of imports.
For now, the cedi rally stands as a sign of improving macroeconomic fundamentals. It reflects collective effort by monetary authority’s exporters and fiscal policymakers. If managed carefully the appreciation could contribute to stable prices improved investor confidence and long run economic growth for Ghana.
