Currency News – Week 44 [November 3, 2025]

The Cedi began the first week of the new month, posting mixed results 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 performance at the start of the week comes ahead of the presentation of the 2026 budget statement to Ghana’s parliament, where the government will be expected to announce measures it will embark on next year to maintain the Cedi’s traction. Both the governor of the central bank and the finance minister, speaking at the launch of the “Cedi at 60” in Accra last week, have already given assurances that the government will remain on course in ensuring a stable Cedi.

The Cedi in November will be expected to repeat the trend observed last month, where the Cedi came in strong to recover from some of its recent losses following the BoG’s announcement of its intervention in the domestic forex market. According to media reports, the central bank will in November replicate its October market participation actions to inject up to USD 1.0 billion into the market under its revised forex market intermediation programme. In the coming weeks, the central bank will be expected to auction up to USD 300.0 million twice weekly to licensed commercial banks on a spot basis. This move will help to meet demand pressures ahead of the festive season, thus helping to sustain the Cedi’s momentum.

On the BoG inter-bank trading platform, the Cedi lost by 0.93% against the Dollar, having been exchanged for GHS 10.9055 at the start of the week from last week’s opening trade value of GHS 10.8054. The Dollar has been in demand following the Fed’s policy-setting meeting last week, where the Fed lowered US interest rates by a quarter of a percent, as widely expected, but raised doubts about the likelihood of another rate cut in 2025. Against the Pound and the Euro, the Cedi edged up by 0.55% and 0.11% to trade at GHS 14.3287 and GHS 12.5624 at the start of the week from the previous week’s opening trade values of GHS 14.4079 and GHS 12.5767, respectively.

On the Open Forex Market (oanda.com), the Cedi plummeted by 0.78% to trade at GHS 10.9331 against the Dollar at the start of the week from last week’s opening trade quote of GHS 10.8489. It, however, strengthened against the Pound and the Euro, up by 0.69% and 0.20%, having been sold for GHS 14.3637 and GHS 12.6001 at the week’s start from last week’s opening trade quotes of GHS 14.4640 and GHS 12.6258, respectively. The Euro weakened against a basket of trading pairs, having been hurt by data that showed that Germany’s manufacturing sector showed little signs of recovery last month, while France’s manufacturing sector remained in a state of weakness in October.

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 10.9055, indicating a Year-to-Date (YTD) gain of 25.85% on the BoG inter-bank trading platform. It is also presently being quoted at GHS 10.9331 on the Open Forex Market (oanda.com) after opening the year at GHS 14.7134, indicating a YTD gain of 25.69%.