The Ghana Cedi started the week on a slight decline, following a strong performance in April 2025.
In the retail market, the Cedi traded at GH¢14.60 to one US dollar, while the interbank rate stood at GH¢13.65 per dollar.
Despite the recent dip, the Cedi remains one of Africa’s best-performing currencies in 2025, having appreciated by over 7% since January 1. The CFA franc currently leads as the continent’s top-performing currency.
Analysts remain optimistic about the Cedi’s outlook for May 2025, provided economic conditions remain stable.
According to Databank Research, a strategic gold purchase agreement led by Goldbod is playing a key role in supporting the Cedi. The agreement, signed with nine mining companies, requires them to sell 20% of their monthly gold output—approximately 200 kilograms—before export.
Importantly, these transactions are settled in cedis rather than US dollars. Databank believes this will boost Ghana’s gold reserves and reduce demand for foreign currency, thereby supporting the local currency.
The research firm also expects the Bank of Ghana to implement targeted interventions to help maintain currency stability. As a result, Databank predicts the Ghana Cedi will remain strong in the near term.
