Bank of Ghana (BoG) data reveals that in the first six weeks of 2025, the Cedi has depreciated sharply against the U.S. dollar, dropping from GHȼ14.5/USD at the start of January to GHȼ15.55/USD currently, with even higher rates in forex bureaus.
This 6.5% depreciation has sparked concerns, especially among businesses and traders who initially expressed optimism about the Cedi’s stability in the new year.
However, the local currency’s continuous decline has dashed those hopes.
Analysts warn that if this trend persists throughout 2025, the Cedi could lose over 50% of its value against the U.S. dollar, further straining the economy.
As a result, experts are urging the government to implement immediate measures to curb the rapid depreciation before it worsens.
The weakening Cedi is also driving up fuel prices despite a 5.65% drop in Brent crude and other petroleum products on the international market.
According to a report by the Institute for Energy Security (IES), fuel prices in Ghana surged for the third time this year in February’s first pricing window.
Gasoil increased by GHȼ0.45 per litre, while Gasoline rose by GHȼ0.24 per litre, highlighting the broader economic impact of the currency’s decline.
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