Cedi Maintains Strong Performance Against US Dollar, Trades at GH¢15.75

The Ghanaian cedi continued its positive trend in the retail market, trading at an average of GH¢15.75 per US dollar on February 17, 2025. This marks an improvement from the GH¢15.95 recorded on February 14, 2025.

So far this year, the cedi has depreciated by 0.63%. Analysts predict that the currency will remain relatively stable throughout the week, likely fluctuating between GH¢15.50 and GH¢15.70, as corporate demand remains subdued, reducing market volatility.

Despite its recent resilience, experts caution that the cedi’s stability could be tested in the coming months due to factors such as reduced foreign exchange inflows, increased repatriation of funds, and rising demand pressures.

Last week, the cedi demonstrated mixed performance across different market segments. While it saw a modest depreciation in the interbank market due to limited foreign exchange supply, the retail market remained stable, benefiting from lower demand pressures.

At the close of the previous trading week, the cedi recorded a slight appreciation of 0.48%, ending at GH¢15.95 per US dollar. It remained unchanged against the British pound at GH¢19.50 but weakened slightly against the euro, losing 0.31% to settle at GH¢16.25.

Market watchers will be closely monitoring trends in the coming weeks as the cedi navigates external and domestic economic pressures.