Ghana’s local currency, the cedi, continues to show resilience on the interbank market, appreciating against major trading currencies, particularly the US dollar.
As of May 28, 2025, the Bank of Ghana reported that the cedi is trading at a buying price of GH₵10.29 and a selling price of GH₵10.30 to the dollar. This marks a steady performance amidst global economic fluctuations.
For other major currencies, the British pound is being bought at GH₵13.91 and sold at GH₵13.93, while the euro is trading at a buying price of GH₵11.67 and a selling price of GH₵11.68.
At 9:00 AM on the same day, forex bureaus across the country offered slightly higher rates, with the dollar trading at GH₵11.60, the pound at GH₵15.80, and the euro at GH₵13.30 on the retail market.
In a bid to further stabilize the cedi and bolster economic confidence, the Bank of Ghana has announced that the country is set to receive $130 million from the International Monetary Fund (IMF) in June 2025. This financial injection is expected to reinforce the cedi’s strength and support ongoing economic reforms.
Market analysts suggest that the cedi’s performance is a reflection of prudent fiscal policies and ongoing interventions by the central bank. As the nation awaits the IMF inflow, stakeholders remain optimistic about the local currency’s ability to maintain its stability and competitiveness in the global market.
Story by: Mercy Addai Turkson # ahotoronline.com
