Weekly Currency News Report – Week 37 [September 14 2026]

After weeks of nursing weekly losses across the board against its three major trading partner currencies, the Cedi began this week hinting at a comeback as it recorded gains against the Dollar, the Pound, and the Euro on the Open Forex Market (oanda.com). On the Bank of Ghana (BoG) interbank trading platform, the Cedi opened the week stronger against the Euro but failed to maintain the momentum against the Dollar and the Pound, extending its weekly losses against the pair for the fourth consecutive time. The local unit has, since the start of the second half of the year, been under sustained mild pressure, buoyed by a pick-up in forex demand amid growing global uncertainties as the Middle East deadlock rages on.

The Cedi’s apparent clawing back of some of its earlier gains comes after data from the Ghana Statistical Service noted that Ghana’s economy expanded by 6.0% in the second quarter of 2026, with the growth spurred by expansion in technology and transport. The Cedi’s outlook has also been boosted by an expected central bank injection of USD 500 million into the domestic forex market to meet surging demand. An earlier announcement by the Ghana Gold Board to provide a total of USD 1.4 billion in foreign exchange receipts is also expected to meet a rise in Ghana’s energy needs and rising import bills.

On the BoG inter-bank trading platform, the Cedi depreciated by 0.60% and 0.16% against the Dollar and the Pound, having traded at GHS 11.4687 and GHS 15.5690 at the start of the week, from the previous week’s opening trade quote of GHS 11.4007 and GHS 15.4445, respectively. The Dollar maintained its firm grip over many of its trading pairs as recent gains came largely on the back of consumer and producer inflation reports that boosted US Fed rate hike expectations. Against the Euro, the Cedi edged up by 0.12% to trade at GHS 13.2429 at the start of this week, from last week’s opening trade quote of GHS 13.2582.

On the Opening Forex Market (oanda.com), the Cedi soared by 0.40%, 0.66%, and 0.97% to open the week sold for GHS 11.4297, GHS 15.4283, and GHS 13.2079 from last week’s opening trade values of GHS 11.4760, GHS 15.5305, and GHS 13.3375 against the Dollar, the Pound, and the Euro, respectively. The Euro lost against the Cedi despite gaining against some of its trading pairs, drawing support from a recent hawkish European Central Bank hike, citing ongoing pressure from a jump in energy prices linked to the Middle East conflict.

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 11.4687, indicating a year-to-date (YTD) depreciation of 9.17% on the BoG inter-bank trading platform. It is also currently quoted at GHS 11.4297 on the Open Forex Market (oanda.com), having opened the year at GHS 10.5253, indicating a YTD loss of 5.59%.