The Ghana cedi is showing renewed strength against major international currencies, according to the Bank of Ghana's official rates released on Tuesday, May 13, 2025.
The updated figures signal growing market confidence in the local currency, driven by tightened monetary policies and ongoing economic reforms.
Per the central bank's rates, the cedi is trading at: USD: Buying at GH¢12.8836 | Selling at GH¢12.8964 Pound Sterling: Buying at GH¢17.0218 | Selling at GH¢17.0401 Euro: Buying at GH¢14.3281 | Selling at GH¢14.3411 These figures indicate a marginal appreciation of the cedi compared to previous weeks, when the local currency faced downward pressure from external market volatility and domestic inflation concerns.
Analysts say the steady performance is partly due to the Bank of Ghana's prudent management of the forex market, timely interventions, and the positive impact of recent inflows from donor support and cocoa syndicated loans. "The narrowing gap between buying and selling rates is a good sign of reduced speculation and improved forex liquidity," said an Accra-based currency analyst. "It also reflects some degree of confidence returning to the economy." The appreciation of the cedi is expected to ease inflationary pressures on imported goods, especially as the country approaches the mid-year review of its fiscal strategy.
