Ghanaian cedi depreciates 9.5% in nine months of 2026
The Ghanaian cedi has depreciated by 9.5% against the U.S. dollar during the first nine months of 2026. Data from the Bank of Ghana indicates ongoing currency volatility compared to the previous year.
Why it matters
Currency depreciation in emerging markets significantly impacts local inflation, purchasing power, and the cost of imports.
--> In Ghana, the national currency, the cedi, depreciated by 9.5% against the US dollar on the interbank market as of September 2026. In September, one dollar cost 11.55 Ghanaian cedis, according to data from the Bank of Ghana.
According to MyJoyOnline , over the same period in 2025, the cedi, by contrast, strengthened by 18.45%. In September 2025, the exchange rate stood at 12.42 cedis per dollar.
In January 2026, the cedi lost 4.6% of its value against the US currency, and 2.2% in February. In March and April, depreciation amounted to 5% and 6.6%, respectively.
In May, the currency weakened by about 8.4% on the interbank market, by 7.9% in June, and by 10.6% in July. In August, the cedi depreciated by 7.1%, which was a lower figure than in July.
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