Currency News [September 15, 2025]

The Cedi remained troubled at this week’s opening, losing ground against its three major trading partner currencies on both the Bank of Ghana (BoG) inter-bank trading platform and the Open Forex Market (oanda.com). The local unit’s losses at the start of the week mark its sixth consecutive weekly decline across the board against the Dollar, the Pound, and the Euro. The renewed pressure on the local currency is expected to take center stage as the central bank’s Monetary Policy Committee (MPC) heads into its September sitting this week, where the committee will be expected to stay on a cautious stance.

Already, speaking at the opening of the MPC’s meeting earlier this week, the governor hinted that the emerging upside risk to the Cedi is emanating from seasonal pressures and a slowdown in remittance inflows in recent weeks. He, however, noted that these emerging risks have been contained and that the Cedi remains one of the strongest currencies globally. Last week, Ghana’s president, speaking at a media engagement, acknowledged the central bank’s direct intervention in the local forex market, a move which had supported the Cedi’s rally. This, however, has been scaled back according to the president. Although the ongoing pressure on the Cedi is expected to continue, the local unit is likely to experience a bit of a respite following the receipt of USD 360 million from the World Bank to strengthen Ghana’s economic recovery drive.

On the BoG inter-bank trading platform, the Cedi weakened by 1.25%, 1.65%, and 1.38% to open the week at trade values of GHS 12.2061, GHS 16.6015, and GHS 14.3624 from last week’s opening trade quotes of GHS 12.0560, GHS 16.3323, and GHS 14.1663 against the Dollar, the Pound, and the Euro, respectively. The Euro rose against a basket of trading pairs after the European Central Bank kept its key interest rate on hold at 2.0% for the second straight meeting, while policymakers sounded upbeat about the Eurozone’s economic outlook.

On the Open Forex Market (oanda.com), the Cedi traded down by 1.01%, 1.48%, and 1.13% to open the week, being offered for GHS 12.2347, GHS 16.6268, and GHS 14.3766 from last week’s opening trade quotes of GHS 12.1127, GHS 16.3839, and GHS 14.2163 against the Dollar, the Pound, and the Euro, respectively. The Dollar stayed on a strong footing against a set of trading pairs despite increasing bets that the US Fed will on Wednesday hand down a 25 basis point rate cut after recent data showed a sustained deterioration in the US labour market, while the recent inflation release did not rise as sharply as markets feared.

The Cedi was quoted at GHC 14.7074 on the first trading day of the year against the Dollar and is currently being sold at GHS 12.2061, indicating a Year-to-Date (YTD) gain of 17.01% on the BoG inter-bank trading platform. It is also presently being quoted at GHS 12.2347 on the Open Forex Market (oanda.com) after opening the year at GHS 14.7134, indicating a YTD gain of 16.85%.