The Ghana cedi has appreciated by 21.0% against the US dollar in nine months of 2025.
However, the local currency lost about 19% in value between late July 2025 and September 2025, after recording 40.5% appreciation as of July 2025.
According to the Bank of Ghana’s September 2025 Summary of Economic and Financial Data, the cedi traded at GH¢12.15 to one US dollar on the interbank market.
In May 2025, the local currency gained 43% in value to the American greenback since January 1, 2025.
Similarly, the cedi appreciated by 42.6% against dollar in June 2025 and 40.5% in July 2025.
It also appreciated by 6.9% to the euro on the interbank market in September, going for GH¢14.23. However, it lost a huge value between July and September 2025.
For the pound, the cedi also gained 11.8% in value. It consequently sold at GH¢14.23 on the interbank market.
Cedi Remains One of Best-Performing Currencies
Despite the recent setback, the Bank of Ghana Governor, Dr Johnson Asiama, said the cedi remains one of the best-performing currencies in the world, highlighting, the usual seasonal trade pressures and a recent dip in remittance inflows.
Opening the Monetary Policy Committee (MPC) meeting on Monday, September 15, 2025, Dr Asiama acknowledged that remittances have not been as robust as in previous years.
Cedi Near Term Outlook
Meanwhile, analysts expect the cedi to record a modest stability as positive sentiment builds on the back of the World Bank’s US$360 million concessional loan.
This will come amid a stronger forex support further anchoring this outlook.
However, the upcoming Monetary Policy Committee decisions, particularly a cautious US rate cut to address softening labour data, will be pivotal in shaping US dollar Ghana cedi sentiments.
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