The Ghana cedi has come under renewed pressure at the start of 2026, depreciating by an average of about four percent against major international currencies in the opening weeks of the year, central bank data show.
According to the Bank of Ghana’s January 2026 Summary of Economic and Financial Data, the cedi was trading at GH¢10.88 to the US dollar on the interbank market, compared with GH¢10.45 at the close of December 2025, representing a depreciation of roughly four percent.
The local currency also weakened against other key trading currencies, losing about 4.9 percent against the British pound and 4.1 percent against the euro. The pound was quoted at GH¢14.77, while the euro traded at GH¢12.80 on the interbank market.
Movements in the foreign exchange market have been mixed over the past two weeks. In the retail segment, sustained demand pressures saw the cedi trading at around GH¢12.00 to the dollar.
Over the same period, the dollar edged up from GH¢11.90 to GH¢12.15, while the pound and the euro strengthened further, closing at approximately GH¢16.30 and GH¢14.20, respectively.
Analysts attribute the January depreciation to seasonal foreign exchange demand, portfolio rebalancing at the start of the year, and the cedi’s sensitivity to global financial conditions.
Despite the slide, the scale of the decline is viewed as modest compared with the strong performance recorded in 2025.
The Bank of Ghana has maintained a cautious policy stance and says it is closely monitoring developments in the foreign exchange market, as attention shifts to whether the early-year weakness will ease in the coming months or signal a more sustained adjustment following last year’s sharp appreciation.
The recent softening contrasts with developments in 2025, when the cedi staged a notable recovery. After early losses in the first quarter, the currency rebounded strongly from April, gaining about 43 percent against the dollar by May and ending the year with a cumulative appreciation of 40.7 percent, supported by improved confidence, stronger foreign exchange inflows and tighter policy coordination.
Asaase Broadcasting Company airs on Asaase 99.5 Accra, Asaase 98.5 Kumasi, Asaase 99.7 Tamale, Asaase 100.3 Cape Coast, AsaasePa 107.3 (Accra).
Affiliates: Bawku FM 101.5, Bead FM 99.9 (Bimbilla), Mining City Radio 89.5 (Tarkwa), Nandom FM 101.9, Nyatefe Radio 94.5 (Dzodze), Sissala Radio 96.3 (Tumu), Somuaa FM 89.9 (Gushegu), Stone City 90.7 (Ho) and Wale FM 106.9 (Walewale).
Listen online: atlanticafricanews.com/, Sound Garden and TuneIn.
Follow us:
X: @asaaseradio995, @Asaase985ksi, @Asaase997tamale, @asaase1003, asaasepa1073
Instagram: asaaseradio99.5, asaase985ksi, asaase100.3, asaase99.7tamale, asaasepa107.3
LinkedIn: company/asaaseradio995. TikTok: @asaaseradio99.5
Facebook: asaase99.5, asaase985ksi, Asaase100.3, asaase99.7, AsaasePa107.3.
YouTube: AsaaseRadioXtra.
Join the conversation. Accra: call 020 000 9951/054 888 8995, WhatsApp 020 000 0995. Kumasi: call 059 415 7985 or call/WhatsApp 020 631 5260. Tamale: call/WhatsApp/SMS 053 554 6468. Cape Coast: call/WhatsApp 059 388 2652.
#AsaaseRadio
#AsaasePa
#TheVoiceofOurLand
