Currency News Report – Week 50 [December 15, 2025]

The Cedi looked set to end the year, trimming down a significant portion of its massive gains achieved in the course of the year, as the seasonal demand for forex mounts pressure on the local unit. The Cedi, accordingly, at the start of the week came under intense pressure as it posted losses 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), where it extended its weekly losses against the three for the sixth consecutive time.

The Cedi’s struggle at the week’s opening comes amidst a subdued US Dollar against most of its international peers following the interest rate cut by the Federal Reserve last week, and the forecast of another reduction in the coming year, even as US policymakers remain divided, awaiting economic clarity. The Cedi’s outlook going into 2026 is expected to be mainly dependent on the release of funds from the International Monetary Fund (IMF) as part of Ghana’s ongoing Extended Credit Facility programme with the IMF. A timely intervention by the central bank on the back of the striking increase in Ghana’s international reserves is also expected to offer support to the Cedi.

On the BoG inter-bank trading platform, the Cedi depreciated by 0.61%, 1.18%, and 1.80% to open the week trading at GHS 11.4957, GHS 15.3928, and GHS 13.5191 from last week’s opening trade quotes of GHS 11.4257, GHS 15.2133, and GHS 13.2798 against the Dollar, the Pound, and the Euro, respectively. The Euro gained against a basket of currencies, aided by German exports, which rose slightly in October, signalling that the Eurozone’s largest economy is on the path to economic recovery.

On the Open Forex Market (oanda.com), the Cedi dipped by 0.64%, 1.00%, and 1.49% to trade at GHS 11.5018, GHS 15.3833, and GHS 13.5091 at the start of the week from last week’s opening trade quotes of GHS 11.4285, GHS 15.2314, and GHS 13.3104 against the Dollar, the Pound, and the Euro, respectively. The Pound gained against the Cedi despite weakening against other major pairs, hurt by data that showed that the UK economy unexpectedly contracted in October, with uncertainty ahead of the 2026 budget statement likely curtailing growth.

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 11.4957, indicating a Year-to-Date (YTD) gain of 21.84% on the BoG inter-bank trading platform. It is also presently being quoted at GHS 11.5018 on the Open Forex Market (oanda.com) after opening the year at GHS 14.7134, indicating a YTD gain of 21.83%.