Cedi Strengthens: Now Trading at GH¢10.40 to the Dollar

The Ghanaian cedi has shown a welcome sign of strength against the US dollar and other major international currencies, giving businesses and consumers a much-needed breath of relief.

As of Tuesday, May 27, 2025, the Bank of Ghana’s official interbank exchange rates show the cedi trading at GH¢10.3948 to the US dollar on the buying side, and GH¢10.4052 on the selling side.

This marks a modest but encouraging appreciation, especially in comparison to recent weeks where the cedi faced pressure.

The local currency also gained ground against the British pound and the euro. The pound is now being bought at GH¢14.0964 and sold at GH¢14.1115, while the euro is trading at GH¢11.8288 for buying and GH¢11.8395 for selling.

Currency analysts and economists say the improvement is linked to a combination of tighter government spending, steady interventions by the Bank of Ghana, and rising foreign inflows. These include funds from Ghana’s cocoa syndicated loans and a boost in remittances from Ghanaians abroad.

“This is good news, especially for importers and businesses heavily dependent on foreign goods,” said one financial analyst in Accra. “When the cedi gains value, it reduces the cost of imports and helps manage inflation.”

Over the past year, fluctuations in the exchange rate have contributed to rising prices on the market, putting pressure on everyday spending.

A stronger cedi helps cushion some of that impact, making life a little easier for the average Ghanaian.

However, experts are urging caution. While this gain is a step in the right direction, long-term stability will depend on more than just short-term inflows.

“There needs to be a continued focus on structural reforms, better export performance, and strong policy discipline,” one economist noted. “Otherwise, these gains could be temporary.”

The Bank of Ghana’s rates are based on average interbank trading figures recorded at the close of business on Monday, May 26, 2025.

For now, though, the upward tick in the cedi’s performance is a welcome development in Ghana’s economic story.