Cedi Holds Steady at ¢11.84 to the Dollar, Signals Market Stability

Ghana’s local currency, the cedi, has shown signs of stability as it maintained its position against major foreign currencies at the close of trading on Wednesday, May 21, 2025.

According to official data released by the Bank of Ghana, the cedi closed the day trading at ¢11.8441 to the US dollar for buying and ¢11.8559 for selling on the interbank market.

This reflects a very slight movement from previous rates and suggests that the currency remains relatively steady in the face of global and local economic pressures.

The cedi also held up well against other key international currencies. The British pound sterling was bought at ¢15.8320 and sold at ¢15.8490, while the euro exchanged at ¢13.3311 for buying and ¢13.3432 for selling.

This steady performance is seen by analysts as a positive sign for Ghana’s economy, indicating that the central bank’s efforts to manage inflation, control foreign exchange demand, and stabilize the macroeconomic environment may be paying off.

In recent months, the Bank of Ghana has taken a proactive stance in managing the currency market.

Through regular monetary policy reviews, forex auctions, and tight oversight of commercial bank operations, the central bank continues to guard against excessive volatility that could shake investor confidence.

Economists say a stable cedi helps businesses plan better and gives consumers more confidence in prices.

It also plays a key role in controlling inflation, especially in a country that relies heavily on imports for goods and services.

Although there are global uncertainties, including shifting oil prices and geopolitical tensions that could influence currency trends, Ghana’s current exchange rate levels offer a breathing space for traders, importers, and the general public.

As the second half of the year approaches, market watchers will be keen to see whether the cedi can maintain its calm or face new pressures. For now, however, the message from the market is clear: the cedi is holding its ground.