Ghana’s cedi has been ranked as the fourth most valuable currency in Africa against the United States dollar, placing the country among the continent’s top five currencies, according to a report on currency valuations in October 2026.
The ranking puts the Ghanaian cedi behind the Tunisian dinar, Libyan dinar and Moroccan dirham, while Botswana’s pula occupies the fifth position.
According to figures attributed to the Forbes currency calculator, one US dollar was equivalent to approximately GH¢11.58 at the time of the ranking. The Bank of Ghana’s reference rate was also reported at approximately GH¢11.65 to the dollar on the Friday cited in the report.
Tunisia’s dinar emerged as Africa’s most valuable currency, exchanging at approximately 2.98 dinars to one US dollar. Libya followed in second place with its dinar trading at about 6.39 to the dollar, while Morocco’s dirham ranked third at approximately 9.81 to the dollar.
Ghana occupied the fourth position, making it the only West African country represented in the top five. Botswana completed the list in fifth place, with its pula valued at approximately 13.76 to one US dollar.
Despite the ranking, the cedi has reportedly experienced a decline in value against the US dollar during 2026, losing approximately 10% of its value over the period covered by the report.
The development follows a strong performance by the Ghanaian currency in 2025, when it ended the year at approximately GH¢10.45 to the dollar on the interbank market.
That performance marked a significant turnaround for the cedi, which recorded its first annual appreciation against the US dollar in three decades.
The currency’s performance has been closely linked to developments in Ghana’s foreign exchange market, the country’s external reserves and broader economic conditions.
Bank of Ghana Governor Dr Johnson Asiama has previously highlighted improvements in the country’s external reserves as an important factor supporting the cedi’s recovery and creating a more predictable environment for businesses and investors.
However, the latest ranking should be understood in the context of nominal exchange-rate value rather than the overall strength of an economy.
A currency’s position on such a list is determined by how many units are required to purchase one US dollar. It does not necessarily reflect a country’s economic size, purchasing power, living standards or the strength of its financial system.
Ghana’s fourth-place position nevertheless places the cedi among Africa’s higher-valued currencies in the reported comparison, even as its recent movement against the dollar remains an important concern for businesses, importers and consumers.
The performance of the currency in the coming months will therefore remain significant as policymakers seek to maintain economic stability, strengthen foreign exchange reserves and protect the gains recorded during the previous year.
Source: Thepressradio.com
