The Ghana cedi has recorded modest gains against the US dollar, British pound and euro over the past two weeks, with increased foreign exchange supply from the Ghana Gold Board (GoldBod) helping to ease pressure on the local currency.
The cedi’s performance on the interbank market improved slightly, while exchange rates at forex bureaus remained largely stable over the same period.
Figures from the interbank market show that the local currency appreciated by 0.09 per cent against the US dollar, 0.14 per cent against the British pound and 0.50 per cent against the euro.
It traded at GH¢11.64 to the dollar, GH¢15.55 to the pound and GH¢12.98 to the euro.
On the retail market, the dollar and euro exchange rates remained unchanged at GH¢12.08 and GH¢13.60, respectively.
However, the cedi weakened slightly against the pound, recording a 0.63 per cent depreciation to trade at GH¢16.00.
The latest performance has also reduced the cedi’s year-to-date depreciation, which eased from 10.76 per cent in September to 10.07 per cent at the end of October 2026.
Databank Research attributed the improvement largely to GoldBod’s increased supply of foreign exchange, revealing that the institution injected US$1.011 billion into the market in October.
The injection helped improve dollar liquidity and reduce some of the pressure on the local currency.
Looking ahead, the research firm expects the cedi to strengthen further, projecting that it could trade at GH¢11.41 against the US dollar over the next two weeks.
The projection comes despite expectations of increased demand for foreign currency as businesses and individuals prepare for the festive season.
“With US$800 million earmarked for commercial bank auctions from a US$1.2 billion November 2026 gross intermediation, we expect sustained dollar liquidity to support near-term exchange rate stability,” Databank Research stated.
Meanwhile, the cedi began the week trading at GH¢12.15 to the US dollar at forex bureaus, reflecting the difference between retail and interbank market rates.
