The Ghana cedi is projected to weaken by 8.0% against the US dollar in 2026, according to new forecasts from UK-based research firm Fitch Solutions.
Fitch noted that this anticipated depreciation remains below the currency’s long-term average annual decline of 10.2% recorded between 2010 and 2025. The firm said elevated global gold prices and solid international reserves should help contain excessive pressure on the exchange rate in the coming quarters.
In its report titled “2026 Outlook For Ghanaian Economy Remains Robust, Despite Quarter 3 2025 Slowdown”, Fitch added that inflation is expected to run slightly higher in the second half of 2026 due to some demand-side pressures. However, it stressed that inflation will remain modest by recent standards, easing the strain on household finances.
The report also highlighted the government’s pledge in the 2026 budget to raise public-sector wages by 9.0%, a move Fitch believes will further strengthen household purchasing power. As a result, the firm forecasts strong private consumption growth of 6.5% in 2026, contributing 5.3 percentage points to overall real Gross Domestic Product growth.
Domestically, the cedi has come under mild pressure in recent weeks. Over the last two weeks, the local currency has recorded modest depreciation against major trading currencies, driven largely by seasonal foreign exchange demand and more cautious support from the Bank of Ghana.
On the interbank market, the dollar-cedi pair ended the fortnight at a mid-rate of GH¢11.41, up from GH¢11.12. Against the British pound and the euro, the cedi weakened by 4.62% and 3.87%, closing at GH¢15.26 and GH¢13.32, respectively.
In the retail market, the cedi slipped by 0.41% to GH¢12.05 to the dollar and lost 0.94% and 1.08% of its value against the pound and euro, ending the period at GH¢15.90 and GH¢13.95, respectively.
Story by: Mercy Addai Turkson #ahotoronline.com