The Ghana cedi appreciated by 24.1% against the US dollar in the first five months of 2025, reversing earlier losses of 5.3% recorded in the first quarter.
According to the Bank of Ghana, the local currency traded at GH¢11.85 to the dollar on the interbank market as of May 2025.
In April 2025 alone, the cedi gained 3.9% against the US dollar.
The cedi also appreciated significantly against other major trading currencies. It gained 14.1% against the euro, trading at GH¢13.33, and 16.2% against the pound sterling, trading at GH¢15.74 on the interbank market.
In the retail market last week, the cedi rose 2.3% week-on-week against the US dollar, bringing its year-to-date gain to 17.7%. It also appreciated 3.5% against the pound and 3.7% against the euro.
This positive performance follows an injection of US$425.50 million into the retail forex market by the Bank of Ghana.