GHANA CEDI STRENGTHENS TO GH¢11.90 AGAINST US DOLLAR – Bloomberg
Currency shows signs of recovery as analysts point to market stabilisation after months of volatility.
The Ghanaian cedi has appreciated significantly against the US dollar, with Bloomberg reporting that the currency is now trading at GH¢11.90 per dollar on the local forex market as of Wednesday, May 21, 2025.
This notable gain comes after a prolonged period of depreciation and volatility that caused uncertainty for businesses, importers, and the general public. The recent development has been welcomed by some financial analysts who interpret it as a potential turning point in Ghana’s economic trajectory.
The cedi’s appreciation is expected to ease pressure on the cost of imports, fuel, and essential goods — a development that could gradually translate into price reductions across various sectors if the trend holds.
The Bank of Ghana (BoG) is expected to respond to the updated rates in its daily interbank forex bulletin beginning Thursday, May 22, as the market awaits confirmation from the central bank.
Source:NKONKONSA.com
