Ghana Cedi Depreciates by 7.9% Against US Dollar in First Half of 2026

The Ghana cedi has faced significant depreciation against major foreign currencies in the first half of 2026. According to the Bank of Ghana's latest Monetary Policy Report, the local currency lost 7.9% value against the US dollar on the interbank foreign exchange market.

This decline is in contrast to the previous year when the cedi recorded appreciations of 42.6% against the dollar, 30.3% against the pound, and 25.6% against the euro during the same period.

The Bank of Ghana attributes the renewed pressures on the domestic foreign exchange market to country-specific vulnerabilities despite a weaker US dollar globally due to economic data expectations.