The Ghana cedi has started 2026 on a positive note, gaining some value against the US dollar.
According to data from the forex bureaus, the cedi has appreciated nearly 1.0% against the American greenback since January 6, 2026.
It is currently trading at GH¢12.10 in the retail market. However, the Bank of Ghana is quoting the cedi at GH¢10.60 to a dollar.
The performance of the local currency is a result of improved market sentiments buoyed by the International Monetary Fund’s US$385 million disbursement to Ghana in December 2025, following the completion of its fifth review under the $3 billion Extended Credit Facility (ECF) programme and the Bank of Ghana’s Gold Purchasing Programme.
There has also been improved investor confidence following the USS709 million Eurobond coupon settlement, ahead of the maturity date.
The International Monetary Fund, in its recent staff report, said the Bank of Ghana (BoG) is actively managing the forex market while increasing its footprint.
It explained that the BoG has taken an increasingly active role as an intermediary in the foreign exchange market on the back of stronger Balance of Payment inflows.
It added that the Domestic Gold Purchase Programme has been the key source of these inflows, which also included cocoa inflows and repatriation requirements on extractive sector export proceeds.
In the first half of 2025, the forex inflows on the BoG’s balance sheet accounted for over 60% of goods exports, from 50% in 2023.
In 2025, the cedi appreciated for the first time against the US dollar, recording a nearly 30% increase in value at the forex bureaus and over 40% at the interbank market.
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