The cedi’s recent strong performance against the US dollar has significantly reduced its year-to-date depreciation.
Market data show that the local currency’s year-to-date depreciation has narrowed to 4.09%, from 10.4% at the end of July 2026.
The recent gains have also improved the cedi’s performance on both the monthly and weekly levels.
Analysis of the market data shows that the cedi continued its positive run during the week of August 10 to 11, 2026.
There are now strong indications that the cedi’s gains could be sustained in the coming weeks, based on fresh market data and information from the Bank of Ghana.
The currency’s improved performance has been attributed to stronger foreign exchange intermediation and market support by the Bank of Ghana.
Inflows from the extractive sector have also supported the cedi, alongside offshore investor demand for Ghana’s local bonds.
Market players have further pointed to easing demand pressures as a major factor behind the currency’s recent gains.
Senior Finance Lecturer at the University of Ghana Business School, Dr Benjamin Amoah,indicated that he expects the cedi’s positive run to continue.
He linked the outlook to the current Foreign Exchange Management Framework being implemented by the Bank of Ghana.
The latest performance marks a sharp improvement from the pressure the cedi faced during the first half of the year, when strong dollar demand pushed its depreciation significantly higher.
