Ghanaian Cedi Depreciates by 9.5% Against US Dollar

The Ghanaian cedi has experienced significant depreciation against the US dollar in recent months. According to data from the Bank of Ghana, the currency lost 9.5% of its value between January and September 2026.

This decline is a stark contrast to last year's trend, where the cedi strengthened by 18.45%. In September 2025, one dollar cost around 12.42 Ghanaian cedis.

The exchange rate dynamics during the year show a steady increase in depreciation: January saw a loss of 4.6%, followed by 2.2% in February, and then 5% and 6.6% in March and April respectively.

May saw an 8.4% weakening on the interbank market, while June and July saw drops of 7.9% and 10.6%. August's depreciation was lower at 7.1%, but still significant.