Ghanaian cedi depreciates by 9.5% in nine months of 2026 — MyJoyOnline

In Ghana, the national currency, the cedi, depreciated by 9.5% against the US dollar on the interbank market as of September 2026. In September, one dollar cost 11.55 Ghanaian cedis, according to data from the Bank of Ghana.

According to MyJoyOnline, over the same period in 2025, the cedi, by contrast, strengthened by 18.45%. In September 2025, the exchange rate stood at 12.42 cedis per dollar.

Exchange rate dynamics during the year

In January 2026, the cedi lost 4.6% of its value against the US currency, and 2.2% in February. In March and April, depreciation amounted to 5% and 6.6%, respectively.

In May, the currency weakened by about 8.4% on the interbank market, by 7.9% in June, and by 10.6% in July. In August, the cedi depreciated by 7.1%, which was a lower figure than in July.

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Exchange bureau rate and forecast

On the retail foreign exchange market, the cedi has lost about 8% of its value against the dollar since the start of 2026. At exchange bureaus, the dollar was sold for about 12.20 cedis.

Against other currencies, the cedi depreciated by 9% against the British pound and by 7.3% against the euro on the interbank market in September.

Research company Databank Research had previously forecast that the exchange rate would stand at 12.20 cedis per dollar at the end of the year. The company explained the revision of its previous forecast by stronger foreign currency inflows and an improvement in the country’s external position. Databank Research also expected that the 30% gold purchase requirement under GoldBod would contribute to gold mobilization and reserve accumulation.