According to Bloomberg data sighted by GhanaWeb Business on Friday May 23, 2025, the cedi is currently selling at GH¢10.83 to the dollar on the interbank market as of 12:25 GMT, an appreciation that reflects growing market confidence in Ghana’s recent economic reforms and improved foreign exchange management.
This marks the first time in two years that the local currency has traded below GH¢11 to the dollar.
The Bank of Ghana, in its daily interbank FX update, reported the cedi trading at a buying price of GH¢11.62 and a selling price of GH¢11.63 to the dollar.
This development represents a continued narrowing of the spread between buying and selling prices, suggesting greater stability in forex markets.
The local currency is also firming up against the British pound and the Euro. The pound is being bought at GH¢15.60 and sold at GH¢15.62, while the Euro is trading at GH¢13.11 (buying) and GH¢13.12 (selling).
On the retail market, where rates tend to be higher due to overhead costs and margins, GhanaWeb Business checks as of 9:00 AM on May 23, 2025, revealed that the cedi is exchanging at GH¢12.50 to the dollar at some forex bureaus.
Additionally, the pound is being sold at GH¢17.20, while the Euro is going for GH¢14.50.
Meanwhile, the continued appreciation of the cedi is being viewed as a positive sign by market watchers, especially in light of last year’s volatility, when the currency depreciated to nearly GH¢17 to the dollar.
With inflationary pressures easing and investor confidence on the rise, the currency’s performance is seen as a critical indicator of Ghana’s ongoing economic recovery.
