Weekly Currency News Report – Week 41 [October 12 2026]

The Cedi opened the week mixed against its three major trading partner currencies on both the Bank of Ghana (BoG) interbank trading platform and the Open Forex Market (oanda.com). The local unit, which had come under some intense pressure as crude oil prices spiked on the international market on the back of concerns of supply bottlenecks, forcing traders and investors into safe havens, has begun to see a reprieve in recent times, toning down the pace of its losses against the largely stronger US Dollar. The local currency has, however, maintained a strong footing against the Euro, as the single currency faces fresh headwinds.

With pressures seemingly building on the Ghanaian Cedi ahead of the festive season as businesses and traders increase their demand for forex, the local unit appears to be weathering the heat, supported by a pickup in forex supply from remittances and gold receipts. The Ghana Gold Board’s planned USD 1.5 billion injection of forex into the Ghanaian market to shore up the country’s reserves in October will be expected to sustain the Cedi’s outlook to withstand demand from traders and the continuously rising energy import bills.

On the BoG interbank trading platform, the Cedi depreciated by 0.04% against the Dollar to open the week trading at GHS 11.7759 from last week’s opening trade quote of GHS 11.7709. Against the Pound and the Euro, the Cedi edged up by 0.06% and 0.44%, having opened the week being offered for GHS 15.5501 and GHS 13.1390 from the previous week’s opening trade quotes of GHS 15.5588 and GHS 13.1966, respectively. The Euro continued to be hobbled by persistent investor anxiety surrounding France’s projected 5.4% budget deficit and the deeply fractured legislative path facing the 2027 draft budget bill.

On the Open Forex Market (oanda.com), the Cedi tumbled by 0.22% and 0.29% to trade at GHS 11.9289 and GHS 15.7806 at the start of the week from last week’s opening trade values of GHS 11.9024 and GHS 15.7348 against the Dollar and the Pound, respectively. The Dollar’s rally against most of its peers extended into the new week, supported by the release of the US Fed’s September minutes, which confirmed that policymakers still viewed inflation as the dominant threat to macroeconomic stability, giving a hint of at least an additional rate hike before the year closes. Against the Euro, the Cedi rose marginally, up by 0.01% to trade at GHS 13.3397 at the start of the week from last week’s opening trade figure of GHS 13.3404.

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 11.7759, indicating a year-to-date (YTD) depreciation of 12.09% on the BoG interbank trading platform. It is also currently quoted at GHS 11.9289 on the Open Forex Market (oanda.com), having opened the year at GHS 10.5253, indicating a YTD loss of 13.34%.