The Ghana Cedi depreciates against major trading currencies
The Bank of Ghana’s latest Economic and Financial Data report has revealed that Ghana’s local currency, the cedi, depreciated by 7.56% against the US dollar, British pound, and euro.
In March this year, the cedi lost 5.3% against the dollar, 8.2% against the pound, and 9.2% against the euro, deepening concerns over exchange rate stability.
This marked a sharp acceleration from January’s depreciation rates of 2.4%, 0.8%, and 3% against the dollar, pound, and euro, respectively.
While the cedi’s performance in March 2025 showed some improvement compared to the same period last year, its trajectory remains uncertain.
The currency ended 2024 with full-year depreciation rates of 19.2% against the dollar, 17.8% against the pound, and 13.7% against the euro.
As of the end of March, the cedi was trading at GH¢15.53 per US dollar, GH¢20.03 per British pound, and GH¢16.75 per euro, underscoring persistent volatility amid macroeconomic headwinds and external pressures.
SP/MA
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