The Ghana cedi had a mixed performance over the past two weeks. This means the cedi did not move in one clear direction across all markets.

The US dollar moved from GH¢11.22 to GH¢11.39. This means it became more expensive to buy one dollar in the interbank market. The cedi also weakened against the British pound and the euro, with the pound moving to GH¢15.21 and the euro moving to GH¢13.03.

But the story was different in the retail market, where individuals and businesses usually buy foreign currency from forex bureaus.

In the retail market, the cedi performed better. It gained value against the US dollar, with the dollar trading around GH¢12.00. The cedi also gained against the pound and euro, which traded around GH¢15.65 and GH¢13.55 respectively.

This shows that while the cedi weakened in the banking market, it was more stable in the retail market.

The Bank of Ghana had earlier supported the cedi by supplying foreign currency into the market. However, the cedi was not able to strengthen below GH¢11.00 to one dollar. This suggests that the GH¢11.00 level may be a difficult point for the cedi to break for now.

After the Bank of Ghana reduced its support and demand for dollars remained steady, the cedi moved back toward GH¢11.39 to the dollar in the interbank market.

Databank Research still expects the cedi to remain fairly stable in the short term, especially before the Mid-Year Budget Review. However, pressure may return in August and September because businesses usually import more goods during that period.

When imports rise, demand for dollars also increases because many goods are paid for in foreign currency. This can put pressure on the cedi.

Since the beginning of 2026, the cedi has gained 1.46% against the US dollar in the retail market.

What This Means

For ordinary Ghanaians, a stable cedi can help reduce the pressure on prices of imported goods such as fuel, electronics, vehicles, food items, and business supplies.

For investors, the cedi’s movement is important because it affects company profits, inflation, interest rates, and the overall confidence in Ghana’s economy.

Companies that import a lot of goods may face higher costs if the cedi weakens. But companies that export goods may benefit because they earn foreign currency.

This is why investors should continue watching the cedi closely, especially as Ghana approaches the Mid-Year Budget Review and the August to September import season.