Ghana’s cedi recorded a gradual depreciation against major trading currencies in early April 2026, even as foreign exchange market conditions remained relatively stable.
Data covering the period from April 1 to April 13, 2026, shows the cedi weakening modestly against the US dollar, euro and pound sterling, reflecting sustained demand pressures but without signs of sharp volatility.
Against the dollar, the cedi slipped from a mid-rate of GHS 11.0000 at the start of April to GHS 11.0300 by April 10, before edging slightly further to GHS 11.0350 on April 13. The movement suggests a measured depreciation trend, rather than abrupt currency swings.
A similar pattern was observed against the euro, where the mid-rate rose from GHS 12.7682 on April 1 to GHS 12.9310 by April 10. The pound sterling recorded the most pronounced shift, climbing from GHS 14.6515 to GHS 14.8448 over the same period.
Despite the broad-based weakening, the pace of depreciation has remained contained. Market spreads between buying and selling rates have stayed relatively tight, indicating adequate liquidity conditions and the absence of speculative pressure.
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The data also points to external dynamics influencing exchange rate movements, particularly the relative strength of the euro and pound on international markets, which appears to have amplified the cedi’s losses against those currencies.
While the cedi continues to face pressure, the absence of sharp fluctuations suggests that confidence in the market remains intact, with participants adjusting to a gradually shifting exchange rate environment.
