Cedi Trades at GH¢10.94 to the Dollar on Monday – BoG

The Ghanaian cedi was buying at GH¢10.9445 and selling at GH¢10.9555 to the US dollar on Monday, according to the Bank of Ghana (BoG).

For the British pound, the local currency traded at a buying rate of GH¢15.0159 and a selling rate of GH¢15.0320.

These figures reflect official exchange rates released by the central bank on Monday, February 2.

Speaking on the performance of the currency, BoG Governor Dr Johnson Pandit Asiama said stronger foreign reserves have helped cushion the cedi against major pressures.

He explained that the currency appreciated significantly against major international currencies in 2025 and has remained largely stable in the early weeks of 2026.

According to him, the gains were driven by favourable global economic conditions, disciplined monetary policies, improved liquidity control, and strong reserve accumulation.

Dr Asiama revealed that the cedi strengthened by about 40.7 percent against the US dollar in 2025, a sharp turnaround from the 19.2 percent depreciation recorded in 2024.

However, he noted that short-term fluctuations are normal, adding that recent minor depreciation is temporary and influenced partly by market speculation.

Latest Economic and Financial Data from the Bank of Ghana for January 2026 show renewed pressure on the local currency, with the cedi weakening on the interbank market.

The cedi moved from GH¢10.45 to the dollar in December 2025 to GH¢10.88 in January 2026, marking a depreciation of roughly 4 percent.

It also lost value against the pound and the euro, falling by 4.9 percent and 4.1 percent respectively.

In retail markets, the dollar traded around GH¢12.00, indicating continued demand for foreign currency, while the pound and euro strengthened further.

Analysts attribute the early-year decline to seasonal forex demand, portfolio adjustments, and sensitivity to global financial trends, though they note the drop remains modest compared to last year’s strong performance.

Meanwhile, BoG data also show improving public debt levels, with total debt falling to GH¢644.6 billion in November 2025, representing about 45.5 percent of GDP — signalling gradual fiscal stabilisation.