The Ghanaian cedi is showing signs of strengthening against key foreign currencies, according to the latest exchange rate update released by the Bank of Ghana on Friday, May 16, 2025.
The official interbank rates, reflecting transactions conducted by commercial banks at the close of business on Thursday, May 15, indicate improved performance of the local currency against the US dollar, British pound, and the euro.
The cedi was trading at an average buying rate of 12.3938 against the US dollar, with a selling rate of 12.4062.
Against the British pound, the cedi recorded a buying rate of 16.4664 and a selling rate of 16.4841.
The euro similarly traded at an average buying rate of 13.8594 and a selling rate of 13.8732.
This positive trend highlights the resilience of the cedi amid global economic uncertainties and signals growing confidence in Ghana’s currency stability.
Economists suggest that sustained government efforts to strengthen the economy, prudent fiscal policies, and improved foreign exchange inflows have contributed to the cedi’s improved positioning in the foreign exchange market.
Market watchers remain optimistic that the cedi’s continued stability will support Ghana’s trade balance, enhance investor confidence, and promote overall economic growth.
The Bank of Ghana continues to monitor market conditions closely, ensuring that exchange rates reflect economic fundamentals while maintaining a stable financial environment for businesses and consumers alike.
