According to a report by GhanaWeb on Wednesday, July 16, 2025, the Ghanaian cedi is still facing weakness on the interbank market. As of that date, the Bank of Ghana (BoG) is selling the US dollar at GH¢10.40. However, rates at forex bureaus across the country are much higher, with the dollar trading at GH¢11.95.
This growing disparity between official and market rates signals increasing demand for foreign currency. Despite this, the cedi is more stable now than it was earlier in the year, when exchange rates saw more severe fluctuations.
Analysts credit recent interventions by the BoG for easing pressure on the currency. The central bank recently injected $1.4 billion into the economy—an effort acknowledged by the International Monetary Fund (IMF)—aimed at strengthening the cedi and stabilizing prices.
In another move to manage inflation and maintain macroeconomic stability, the BoG raised GH¢256.9 million through the sale of short-term treasury bills, amid falling interest rates.
On the interbank market, the cedi is trading at GH¢14.00 to the British pound, marking a slight depreciation. Experts suggest that the BoG is closely monitoring these currency movements and may revise its foreign exchange strategies if needed.
For many Ghanaians and business owners, exchange rate fluctuations remain a key concern due to their impact on fuel, imports, and overall cost of living. While recent measures offer cautious optimism, the currency’s stability remains uncertain in the short term.
From Opera News
