Currency News [July 28, 2025]

After it was subdued against its three major trading partner currencies on both the Bank of Ghana (BoG) inter-bank trading platform and the Open Forex Market last week, the Cedi this week exhibited some bit of resilience as it came in mixed against the Dollar, the Pound, and the Euro. It began the week on the back foot against the Dollar but rose against the Pound to recover sections of last week’s losses across the two markets.

The Cedi’s performance comes after the presentation of the mid-year budget review to Ghana’s parliament last week, where the finance minister recounted the Cedi’s strong performance in the first half of the year. The minister maintained that the Cedi’s rally has largely come on the back of strong fiscal consolidation, tight monetary policy, improved external balances, renewed investor confidence, positive market sentiments, and credit rating upgrades, among others. The minister also signaled the continuation of these policies in the second half of the year, along with plans by the BoG to implement appropriate forex forward auctions aimed at stabilizing the Cedi further.

On the BoG inter-bank trading platform, the Cedi lost against the Dollar, down by 0.29% to open the week at a trade value of GHS 10.4852 from last week’s opening trade quote of GHS 10.4552. Against the Pound and the Euro, the Cedi traded up by 0.50% and 0.53% from last week’s opening trade values of GHS 14.1166 and GHS 12.2434 to open this week, trading at GHS 14.0460 and GHS 12.1790, respectively. The Euro fell against a basket of trading pairs, hurt by concerns that the European Union had accepted the worst end of its trade agreement reached with the US, with the agreement providing for an import tariff of 15% on EU goods.

On the Open Forex Market (oanda.com), the Cedi depreciated by 0.07% and 0.08% against the Dollar and the Euro, being offered for GHS 10.4646 and GHS 12.2065 at the week’s start from last week’s opening trade quotes of GHS 10.4577 and GHS 12.1965, respectively. Against the Pound, the Cedi surged by 0.35% to open the week at a trade value of GHS 14.0284 from last week’s opening trade figure of GHS 14.0775. The Pound weakened against some of its trading pairs as the British economy faces major difficulties, with the government likely to raise taxes soon to boost its coffers.

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 10.4852, indicating a Year-to-Date (YTD) gain of 28.71% on the BoG inter-bank trading platform. It is also presently being quoted at GHS 10.4646 on the Open Forex Market (oanda.com) after opening the year at GHS 14.7134, indicating a YTD gain of 28.88%.