The Ghanaian cedi has experienced a remarkable rebound in 2025, ranking as the fourth best-performing currency in Africa and appreciating by over 40% against the US dollar. This surge has contributed to significant public debt savings and brought stability to the local market, with the Bank of Ghana maintaining the interbank rate around GH¢10.45 per dollar. However, analysts and policymakers warn that the cedi's gains may not be underpinned by strong structural reforms, and there are concerns about the sustainability of this appreciation amid ongoing import pressures and discrepancies between official and market exchange rates. Calls have been made for the government to align official rates with market realities and to implement deeper reforms to ensure long-term stability. The situation remains fluid, with stakeholders closely watching for signs of renewed depreciation or further strengthening.
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