Currency News [October 6, 2025]

The Cedi’s ongoing weakness worsened this week, as the local currency started the week posting bigger margins of decreases against its three major trading partner currencies, its worst week-on-week decline over the past three weeks. The Cedi’s performance comes amidst a US government shutdown, with investors seen moving into other safe-haven assets such as gold and low-yielding currencies like the Japanese Yen. The US government last week shut down most of its operations after an eleventh-hour spending bill backed by the Republican Party failed to clear a Senate vote. There doesn’t appear to be a clear path out of the impasse, and the market could be in for a prolonged shutdown given the sharp political difference between the two sides of the US political divide.

Although this phenomenon has culminated in a general Dollar weakness against most of its peers, the Cedi, together with other riskier currencies, remained subdued against the greenback. It is expected that, given Ghana’s strong Gross International Reserves, which stood at USD 10.7 billion, representing 4.5 months of import cover, and with a positive assessment from the ongoing fifth review of the IMF-assisted programme, the Cedi will hold firm in the last quarter of the year.

On the Bank of Ghana (BoG) inter-bank trading platform, the Cedi traded down by 1.13%, 1.48%, and 0.94%, having been exchanged for GHS 12.5563, GHS 16.9259, and GHS 14.7041 at the start of the week from last week’s opening trade quotes of GHS 12.4165, GHS 16.6791, and GHS 14.5669 against the Dollar, the Pound, and the Euro, respectively. The Euro rose against some of its pairs, boosted by data which showed that growth in the Eurozone services sector accelerated slightly in September to an eight-month high.

On the Open Forex Market (oanda.com), the Cedi plunged by 1.72%, 1.90%, and 1.51% against the Dollar, the Pound, and the Euro to trade at GHS 12.6250, GHS 16.9908, and GHS 14.7757 at the start of the week from last week’s opening trade quotes of GHS 12.4118, GHS 16.6745, and GHS 14.5555, respectively. The Pound rose against a host of currencies, receiving a boost from a report from mortgage lender, Nationwide Building Society, that indicated that British house prices rose slightly faster than expected in September.

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 12.5563, indicating a Year-to-Date (YTD) gain of 14.63% on the BoG inter-bank trading platform. It is also presently being quoted at GHS 12.6250 on the Open Forex Market (oanda.com) after opening the year at GHS 14.7134, indicating a YTD gain of 14.19%.