Ghana’s currency, the cedi, has slowed its depreciation against the US dollar since the start of 2026. According to most business sources, the cedi has weakened by about 1.65% so far this year.
Earlier in the year, the currency had dropped by more than 4% based on commercial bank price quotes. Analysts say the cedi’s performance began improving in the second week of February 2026. During that period, the cedi even appreciated by about 2.21% against the dollar. The improvement is linked to a stronger supply of dollars and lower foreign exchange demand from businesses.
The Bank of Ghana also supported the market by selling $902 million through its dollar intermediation programme. However, analysts warn the cedi may face mild pressure again as business demand for foreign exchange rises after the Chinese New Year.