The Ghana cedi has emerged as the fourth‑best performing currency in Africa, according to recent data. As of 2025, its value stood at GH¢10.93 per US dollar, making it one of the continent’s strongest currencies. This ranking is based on performance relative to the US dollar, with the Tunisian dinar taking the top spot at 2.90 per US dollar, followed by the Libyan dinar and the Moroccan dirham in second and third place, respectively.
The top ten performing African currencies also included the Botswana pula, Seychelles rupee, Eritrean nakfa, and Swazi lilangeni, which ranked fifth, sixth, seventh, and eighth. The South African rand and Namibian dollar rounded out the list, coming in ninth and tenth.
The World Bank attributes the cedi’s strong performance to a combination of tight monetary and fiscal policies, increased export revenues driven by higher gold and cocoa prices, and improved market sentiment. In 2025, the cedi appreciated by a record 27.75 % against the US dollar in the retail market, trading at GH¢12.30 to one US dollar at forex bureaus, while the Bank of Ghana quoted a slightly stronger rate of GH¢10.45 to one US dollar.
The International Monetary Fund (IMF) has noted that the Bank of Ghana has been actively managing the foreign‑exchange market, increasing its presence and intermediary role. This effort has been supported by stronger balance‑of‑payments inflows, primarily from the Domestic Gold Purchasing Programme, cocoa revenues, and repatriation requirements for extractive‑sector export proceeds.
The cedi’s robust performance in 2025 reflects a positive trend for Ghana’s economy, driven by prudent economic management and favorable external factors. As the country continues to navigate the complexities of global trade and finance, the cedi’s stability and strength will remain a key indicator of economic health. With the Bank of Ghana playing an increasingly active role in managing the foreign‑exchange market, the cedi is likely to remain a closely watched currency in the region.
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