Currency News – Week 41 [October 13, 2025]

Emerging favourable news boosted the Cedi’s appeal as the local currency rose strongly, rallying from its recent weakness to begin the new week with gains 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 Cedi’s rally, which began late last week, has been supported by a confluence of recent market positive news stemming from the forex market intervention announcement, to credit rating upgrade, and the success achieved on Ghana’s meeting with the IMF mission team.

The Cedi’s recovery kicked start with an announcement by the governor of Ghana’s central bank, who, speaking at a meeting with heads of commercial banks, noted that beginning this month, the central bank will commence forex intermediation under the Domestic Gold Purchase Programme, with plans to sell up to USD 1.15 billion during the month. This announcement, which was met with news of the upgrade of Ghana’s sovereign ratings by Moody’s from Caa2 to Caa1, with a stable outlook, helped to cement the Cedi’s revised recovery path. Further boosting the Cedi’s medium-term outlook was Ghana reaching a staff-level agreement with the IMF during the conclusion of the fifth review of Ghana’s USD 3.0 billion Extended Credit Facility programme. An endorsement of the fifth review by the IMF Executive Board will lead to the release of USD 385.0 million to shore up Ghana’s reserves and further improve the Cedi’s long-term prospects.

On the BoG inter-bank trading platform, the Cedi traded up by 5.18%, 6.21%, and 6.31%, having been exchanged for GHS 11.9060, GHS 15.8754, and GHS 13.7759 against the Dollar, the Pound, and the Euro at the start of the week from last week’s opening trade quotes of GHS 12.5563, GHS 16.9259, and GHS 14.7041, respectively. The Cedi rose against the Euro as the single currency continued to be battered against some of its trading pairs following the surprise resignation of the French prime minister, which thrust Europe’s second-largest economy into a fresh political standoff.

On the Open Forex Market (oanda.com), the Cedi soared by 4.36%, 5.20%, and 5.29% to trade at GHS 12.0746, GHS 16.1077, and GHS 13.9941 at the week’s start from last week’s opening trade values of GHS 12.6250, GHS 16.9908, and GHS 14.7757 against the Dollar, the Pound, and the Euro, respectively. The Cedi came in strong against the Dollar, as the greenback continues to face some headwinds following the ongoing government shutdown in the US.

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 11.9060, indicating a Year-to-Date (YTD) gain of 19.05% on the BoG inter-bank trading platform. It is also presently being quoted at GHS 12.0746 on the Open Forex Market (oanda.com) after opening the year at GHS 14.7134, indicating a YTD gain of 17.93%.