- The cedi fell 5.3% against the US dollar in Q1 2025
- he cedi gained 0.31% against the US dollar, reducing its year-to-date loss to 2.36%
- The IMF will assess Ghana’s performance under the Economic Credit Facility support for the cedi
The Ghana cedi depreciated by 5.3% against the US dollar in the first quarter of 2025.
According to the Bank of Ghana, the local currency was trading at GH¢15.53 to the US dollar on the interbank market as of March 2025.
In January and February 2025, the cedi weakened by 5.3% and 3.9%, respectively, against the US dollar.
Similarly, the cedi lost 9.2% of its value against the euro in the first quarter, trading at GH¢16.75, and depreciated by 8.2% against the British pound, selling at GH¢20.03. However, in the previous week, the cedi gained 0.31% against the US dollar on the retail market, closing at GH¢15.90, reducing its year-to-date loss to 2.36%.
Next week, a team from the International Monetary Fund (IMF) is scheduled to visit Ghana for the fourth review of the US$3.0 billion Economic Credit Facility programme.
The review will assess Ghana’s performance under the IMF programme and the 2025 Budget.
Analysts believe that a successful review could lead to another tranche disbursement, which would support the Bank of Ghana’s market interventions and help stabilize the cedi.
