Currency News [September 8, 2025]

The Cedi’s ongoing weaknesses continued this week as it suffered its fifth week-on-week loss across the board 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). After showing an impressive record run in most parts of the second quarter of the year, with the local currency rising by as much as 30.0% against the Dollar by the close of May, the Cedi is currently facing a headwind as growing demand by importers and businesses begins to bite.

The reemergence of the pressures on the local unit stems from rising demand amidst limited supply by the central bank, as the BoG attempts to reduce its intervention in the domestic currency space and begins to enforce compliance. The BoG has, over the past few weeks, begun steps to tighten its grip on the domestic forex space by issuing directives and guidelines aimed at curbing speculation, abuse, and misuse. These have been accompanied by appropriate sanctions against parties found to have breached sections of the relevant rules. Barring any significant intervention by the central bank, the Cedi is expected to continue to be pressured as importers prep for the festive season and as offshore investors also seek to repatriate their investment proceeds following the payment of coupons on the DDEP bonds.

On the BoG inter-bank trading platform, the Cedi traded down by 3.88%, 3.89%, and 4.31% to open the week at trade values of GHS 12.0560, GHS 16.3323, and GHS 14.1663 against last week’s trade values of GHS 11.6058, GHS 15.7212, and GHS 13.5809 against the Dollar, the Pound, and the Euro, respectively. The Dollar maintained a stronger footing against the Cedi and other riskier currencies despite being hit hard against some of its major peers at the end of last week after the nonfarm payrolls report showed US job growth weakened sharply in August and the unemployment rate increased to nearly a four-year high of 4.3%, cementing the expectations of a rate cut in September.

On the Open Forex Market (oanda.com), the Cedi plunged by 2.49%, 2.43%, and 2.71% to open the week at trade values GHS 12.1127, GHS 16.3839, and GHS 14.2163 from last week’s opening trade quotes of GHS 11.8184, GHS 15.9953, and GHS 13.8416 against the Dollar, the Pound, and the Euro, respectively. The Euro gained against a host of currencies, helped by data showing German industrial production rose by 1.3% in July compared to the previous month.

The Cedi was quoted at GHC 14.7074 on the first trading day of the year against the Dollar and is currently being sold at GHS 12.0560, indicating a Year-to-Date (YTD) gain of 18.03% on the BoG inter-bank trading platform. It is also presently being quoted at GHS 12.1127 on the Open Forex Market (oanda.com) after opening the year at GHS 14.7134, indicating a YTD gain of 17.68%.