Cedi Slumps 3.9% Against US Dollar Year-to-Date
The Ghanaian cedi has depreciated by 3.9% against the US dollar year-to-date, according to the Bank of Ghana. As of February 2026, the cedi is trading at GH₵15.20 to USD$1, compared to GH₵14.60 at the start of the year.
The depreciation is attributed to increased demand for foreign currency, particularly from the energy sector, and a slowdown in foreign exchange inflows. The cedi’s performance is also influenced by global economic trends, including fluctuations in commodity prices and interest rates.
According to #JoyNews, the Bank of Ghana has been actively intervening in the foreign exchange market to stabilize the cedi. However, the currency’s decline highlights the challenges facing Ghana’s economy, including a widening trade deficit and pressure on foreign reserves.
Economists predict that the cedi’s depreciation could continue in the short term, driven by seasonal factors and global economic uncertainties. They advise businesses and individuals to adopt hedging strategies to mitigate exchange rate risks.
The government has reiterated its commitment to implementing policies aimed at stabilizing the cedi and promoting economic growth. The Bank of Ghana is expected to continue monitoring the situation and take necessary measures to ensure macroeconomic stability.
Author: Korkor Anumu
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