The Ghanaian cedi continues its upward trajectory on the interbank market, strengthening against major international currencies, particularly the US dollar.
In its latest update, the Bank of Ghana reported that the cedi is currently trading at GH₵10.29 to $1 for buying and GH₵10.30 to $1 for selling. The British pound is trading at GH₵13.88 for buying and GH₵13.89 for selling, while the euro is at GH₵11.69 for buying and GH₵11.70 for selling.
Across forex bureaus in the country, trading rates as of 9:00 AM on May 30, 2025, reveal a slightly different picture. The cedi is being sold at GH₵11.50 to $1, the pound at GH₵15.80, and the euro at GH₵13.30.
This steady performance reflects ongoing efforts by monetary authorities to stabilize the local currency. Analysts have pointed to recent policy interventions and a projected inflow of $360 million from the International Monetary Fund (IMF) in June 2025 as key factors contributing to the cedi’s resilience
The IMF inflow is part of Ghana’s ongoing support program aimed at bolstering foreign reserves and improving market confidence. With these measures in place, stakeholders anticipate further stabilization of the cedi, which has long been a vital concern for businesses and individuals engaged in foreign trade.
Market watchers suggest that the cedi’s appreciation could also ease inflationary pressures, reducing the cost of imports and improving the general economic outlook. This momentum offers a much-needed respite for Ghanaians, especially after months of currency volatility.
As the country looks forward to the IMF disbursement, continued fiscal discipline and prudent management of foreign reserves remain critical in sustaining the gains made on the currency market.
Story by: Mercy Addai Turkson #ahotoronline.com
