Weekly Currency News Report – Week 24 [June 15 2026]

Following an announcement that the United States and Iran had reached an interim peace deal, the Cedi, alongside some emerging market currencies, gained traction, recouping some of its earlier losses orchestrated by the Iran conflict. The news dented safe-haven demand and boosted risk sentiment, sending equities higher, whilst triggering a crash in crude oil prices and Treasury yields across most economies. This development annulled earlier projections of a further worsening of the Cedi’s outlook on expectations of a rise in demand for forex and growing corporate repatriation of business proceeds. The Cedi accordingly rose this week, posting substantial margins of increases 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).

As calm seemingly appears to return to the global financial market following the truce reached between the two warring sides, a lift in risk sentiments and a decline in oil prices on expectations that the deal would reduce inflationary pressures worldwide and decrease the need for higher interest rates, boosted the Cedi’s short to medium-term outlook. The Cedi also gained support from an announced USD 1.2 billion monthly forex intermediation programme in June by Ghana’s central bank.

On the BoG inter-bank trading platform, the Cedi traded up by 6.25%, 5.62%, and 5.73% to begin the week, having been exchanged for GHS 11.1056, GHS 14.9181, and GHS 12.8860 from last week’s opening trade quotes of GHS 11.8459, GHS 15.8060, and GHS 13.6695 against the Dollar, the Pound, and the Euro, respectively. The Pound was among a few major international currencies that suffered a hit against some of its trading pairs, hurt by the release of fresh data that showed that the UK economy contracted in April, suggesting that the economy entered the second quarter on a softer footing after a robust first quarter performance.

On the Open Forex Market (oanda.com), the Cedi soared by 5.71%, 5.08%, and 5.12% to trade at GHS 11.1458, GHS 14.9711, and GHS 12.9333 at the start of the week from the previous week’s opening trade quotes of GHS 11.8212, GHS 15.7717, and GHS 13.6319 against the Dollar, the Pound, and the Euro, respectively. The Euro weakened against a set of currencies, failing to capitalize on the European Central Bank’s decision to become the first major global reserve bank to hike rates for the first time in nearly three years, as the ECB looked ahead to tame any probable surge in inflation before higher energy costs, caused by the Iran conflict, spread throughout the Eurozone.

The Cedi was quoted at GHC 10.5053 on the first trading day of the year against the Dollar and is currently trading at GHS 11.1056, indicating a Year-to-Date (YTD) depreciation of 5.71% on the BoG inter-bank trading platform. It is also currently quoted at GHS 11.1458 on the Open Forex Market (oanda.com), having opened the year at GHS 10.5253, indicating a YTD loss of 5.90%.