The Ghana Cedi began trading on Monday, March 16, 2026, at a buying rate of 10.8671 and a selling rate of 10.8779 against the U.S. Dollar, according to official figures from the Bank of Ghana (BoG).
The central bank’s daily interbank rates also positioned the British Pound at 14.3804 for buying and 14.3959 for selling, while the Euro was pegged at a buying price of 12.4301 and a selling price of 12.4413.
These latest figures follow a period of renewed volatility for the local currency. Data from the BoG’s Economic and Financial Data for January 2026 indicates that the Cedi has faced fresh depreciation at the start of the year. In the interbank market, the currency traded at GH¢10.88 to the Dollar in January, a decline from the GH¢10.45 recorded at the end of December 2025, marking a depreciation of approximately 4 per cent.
The Cedi’s performance was similarly strained against other major units, losing 4.9 per cent to the Pound and 4.1 per cent to the Euro during the same period. In the retail market, however, the Cedi saw a wider exchange range of approximately GH¢12.00 to the Dollar due to persistent demand, while the Pound and Euro closed at GH¢16.30 and GH¢14.20, respectively.
Market analysts attribute the January decline to a mix of seasonal demand for foreign exchange, typical New Year portfolio adjustments, and the Cedi’s sensitivity to global financial trends. Despite this dip, observers note that the current depreciation is relatively modest when compared to the significant recovery seen in 2025.
The current trend stands in contrast to the previous year’s performance. After initial losses in early 2025, the Cedi rallied in April. By May 2025, the currency had appreciated by roughly 43 per cent against the Dollar, bolstered by increased investor confidence and tighter policy coordination. This momentum allowed the Cedi to end 2025 with a total year-to-date gain of 40.7 per cent.
Alongside currency trends, BoG data highlighted improvements in national debt management. As of November 2025, total public debt stood at GH¢644.6 billion, representing 45.5 per cent of GDP. The debt stock saw a reduction of about GH¢40 billion between September and November 2025, a shift attributed to better cash management and reduced borrowing. In dollar terms, external debt moderated to US$29.3 billion, accounting for 23.3 per cent of GDP.