Weekly Currency News Report – Week 25 [June 22 2026]

Having posted an impressive recovery last week, with the Cedi clawing back nearly half of its year-to-date 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), the local unit at the start of this week came in mixed against the set of three, losing steam against the Dollar whilst maintaining its strong footing against the Pound and the Euro. The Cedi had mounted a strong recovery last week on the back of a breakthrough in the US-Iran deadlock as an interim peace deal was announced, with the development boosting risk sentiments.

The Cedi’s performance at the start of the week was sustained by stronger-than-expected central bank intermediation in the domestic currency space, helping to ease market pressures whilst minimising speculative demand.  The central bank is expected to inject at least USD 1.2 billion into the forex market to help sustain the Cedi’s outlook at a time when some corporate bodies are seeking to fulfill some financial obligations to their offshore partners. According to analysts, historically, forex intermediations in the range of USD 1.2 billion and USD 1.5 billion have typically improved market stability and supported exchange rate performance. Accordingly, the Cedi is expected to remain stable over the near to short-term as calm also creeps into the global financial market.

On the BoG inter-bank trading platform, the Cedi weakened by 0.90% to open the week trading at GHS 11.2056 against the Dollar from last week’s opening trade quote of GHS 11.1056. The Dollar rose against most of its trading pairs, aided by the Federal Reserve’s decision to maintain its benchmark interest rate at the current level, whilst also pointing out that policymakers anticipate raising borrowing costs later in the year as inflation concerns loom. Against the Pound and the Euro, the Cedi traded up, with an increase by 0.52% and 0.62% to trade at GHS 14.8407 and GHS 12.8058 at the week’s opening from last week’s opening trade quotes of GHS 14.9181 and GHS 12.8860, respectively.

On the Open Forex Market (oanda.com), the Cedi plunged by 1.21% against the Dollar, having been offered for GHS 11.2810 at this week’s opening from the previous week’s opening trade quote of GHS 11.1458. The Cedi, however, maintained its momentum against the Pound and the Euro, edging up by 0.27% and 0.16% after picking up from last week’s opening trade values of GHS 14.9711 and GHS 12.9333 to open this week selling for GHS 14.9302 and GHS 12.9142, respectively. The Pound weakened against some of its trading pairs following the resignation of the British prime minister, as some market analysts feared that Starmer’s exit strips away the hard-fought political stability that had recently underpinned the British currency.

The Cedi was quoted at GHC 10.5053 on the first trading day of the year against the Dollar and is currently trading at GHS 11.2056, indicating a Year-to-Date (YTD) depreciation of 6.67% on the BoG inter-bank trading platform. It is also currently quoted at GHS 11.2810 on the Open Forex Market (oanda.com), having opened the year at GHS 10.5253, indicating a YTD loss of 7.18%.