Currency News Report – Week 47 [November 24, 2025]

The ongoing crush in the global equity markets and the apparent rush into safe-haven assets and currencies by investors worsened the already troubling outlook of the local currency at this week’s opening. The Ghanaian Cedi, thus, began the week building on previous weeks’ losses as it fell across the board against the Dollar, the Pound, and the Euro. The perennial action of importers and businesses as the year draws to a close is also mounting demand pressure on the Cedi, with the Cedi set to hand back some of its earlier gains witnessed last month. Importers’ demand for forex amid limited supply by the central bank has been a major contributor to the recent pressures on the Cedi.

The Cedi’s performance at the start of the week comes ahead of the commencement of the last meeting of the Bank of Ghana’s (BoG) monetary policy committee, where the committee is to, among other things, deliberate on forex market reforms and reserve strategy. The committee will be expected to announce strategies it intends to carry out to meet the surge in forex demand, as well as announce a policy rate direction that will not pose significant threats to the Cedi’s outlook. Going into the meeting, the governor of the central bank has touted a resilient gross international reserves position, which stands at USD 11.41 billion, equivalent to 4.8 months of import cover, and is further expected to reach 5 months of import cover by year-end. The improved reserves position should enable the central bank to maintain its direct market intervention.

On the BoG inter-bank trading platform, the Cedi traded weaker, down by 1.28%, 0.68%, and 0.67% to open the week at trade values of GHS 11.1256, GHS 14.5689, and GHS 12.8259 from last week’s opening trade quotes of GHS 10.9855, GHS 14.4701, and GHS 12.7411 against the Dollar, the Pound, and the Euro, respectively. The Dollar received a boost after the delayed US nonfarm payrolls data painted a mixed picture of the US’s labour market, reinforcing the view that the Fed is likely to keep interest rates unchanged at its December meeting.

On the Open Forex Market (oanda.com), the Cedi tumbled by 1.27%, 0.79%, and 0.63%, having been exchanged for GHS 11.1360, GHS 14.5892, and GHS 12.8348 at the start of the week from the previous week’s opening trade values of GHS 10.9964, GHS 14.4743, and GHS 12.7546 against the Dollar, the Pound, and the Euro, respectively. The Euro rose against some of its trading pairs, helped by data which showed that the Eurozone business activity grew steadily in November as services expanded at the quickest pace in 18 months.

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 11.1256, indicating a Year-to-Date (YTD) gain of 24.35% on the BoG inter-bank trading platform. It is also presently being quoted at GHS 11.1360 on the Open Forex Market (oanda.com) after opening the year at GHS 14.7134, indicating a YTD gain of 24.31%.