The Ghana cedi has appreciated by 21% against the US dollar in the first nine months of 2025, despite sharp fluctuations in recent months.
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.
The local currency had gained 43% by May, 42.6% in June, and 40.5% in July, before losing about 19% of its value between late July and September.
Against other major currencies, the cedi strengthened by 6.9% to the euro at GH¢14.23 and by 11.8% to the pound, also trading at GH¢14.23.
Despite the recent setback, Bank of Ghana Governor Dr. Johnson Asiama has maintained that the cedi remains one of the best-performing currencies globally.
He attributed the recent depreciation largely to seasonal trade pressures and a slowdown in remittance inflows, which he noted have not been as strong as in previous years.
Addressing the Monetary Policy Committee meeting on September 15, 2025, he reiterated confidence in the resilience of the currency.
