Cedi Holds Steady at GH¢10.30 to $1 Amid Dollar Demand
Ghana’s local currency, the cedi, is showing signs of resilience as it maintained a stable exchange rate of GH¢10.30 to $1 on the interbank market as of Wednesday, June 19, 2025. This performance continues the modest gains observed earlier in the week.
While the interbank market remains relatively calm, forex traders in Accra report higher retail rates, with the dollar being sold at around GH¢10.50 to GH¢10.65. The variance is largely attributed to increased demand for foreign currency by importers and businesses settling international obligations.
Meanwhile, the cedi has also recorded slight appreciation against the euro and the British pound, supported by improved market sentiment and ongoing interventions by the Bank of Ghana. Analysts warn, however, that the currency’s stability could be tested in the coming weeks by pressures from the global market and domestic fiscal needs.
“The stability is encouraging, but Ghana needs sustained fiscal discipline and export-driven inflows to build lasting resilience,” said an economist with a local investment firm.
The cedi has been volatile in recent years but regained ground in early 2025 due to tighter monetary policies, inflows from key exports like cocoa and gold, and disbursements under the IMF programme.
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