The Ghanaian cedi continued to weaken against the U.S. dollar for the second consecutive week, reflecting steady demand for foreign currency amid broader market developments.
According to Bank of Ghana data, the USD/GHS mid-rate rose from 10.7200 cedis on 2 March 2026 to 10.8200 cedis on 11 March 2026, representing a 0.93% appreciation in the dollar over the week. The increase means that U.S. dollars became slightly more expensive for businesses and individuals conducting foreign transactions.
The British pound also strengthened against the cedi during the same period. The GBP/GHS mid-rate increased from 14.3321 cedis to 14.5102 cedis, marking a 1.24% appreciation. The pound emerged as the strongest-performing major currency against the cedi over the week.
Meanwhile, the euro remained largely stable, with the EUR/GHS mid-rate edging up marginally from 12.5193 cedis to 12.5207 cedis, reflecting a 0.01% change, indicating minimal movement compared to the U.S. dollar and pound.
Daily data over the week shows a gradual upward trend in the U.S. dollar and pound, while the euro experienced slight fluctuations before stabilising toward the end of the period. The movement of these currencies reflects ongoing foreign currency demand across multiple sectors, including trade, remittances, and investment transactions.
The cumulative effect of these trends has been a mild depreciation of the Ghanaian cedi, with foreign-denominated goods, services, and imports likely to see increased costs.
Despite the cedi’s moderate decline against the dollar and pound, it has remained relatively resilient, particularly against the euro, which has stayed stable throughout the period. The Bank of Ghana has continued to maintain mechanisms to support liquidity and ensure orderly trading in the domestic foreign exchange market.
Over the week, the cedi traded with USD at a mid-rate of 10.8200, GBP at 14.5102, and EUR at 12.5207.
The trends indicate ongoing pressure on the cedi against the U.S. dollar and pound, while euro transactions remain largely unaffected, suggesting a continuing divergence in performance among major currencies.
