The Ghanaian cedi has hit a new rate, with the dollar now trading at GH¢11.90 on the local forex market as of Wednesday, May 21, 2025, according to Bloomberg's latest update.

While the recent depreciation initially caused concern, some financial analysts view the current rate as a sign of stabilisation in the local currency market after a prolonged period of volatility that left many uncertain about the economy’s outlook.

This development also marks a significant improvement, offering some relief to businesses and consumers alike.

The Bank of Ghana is expected to comment on the recent gains, with Ghanaians anticipating that the central bank’s daily forex updates will reflect the latest changes starting Thursday, May 22, 2025.

Meanwhile, some Ghanaians have taken to social media to react to the dollar trading at GH¢11.90, sharing mixed views about its implications for the broader economy.

Here are some social media reactions to the new cedi rate

Like this if you want to go to Ibiza pic.twitter.com/Lqtuba1zpR

— Weffrey Jellington (@jeffwellz) May 21, 2025

This is becoming scary🤣🤣🤣🤣🤣🤣

.@metrotvgh pic.twitter.com/LHvOATJGBT

— Annie Afua Ampofo (@AAA_Grey) May 21, 2025

Super Cedi pic.twitter.com/afOdNpvBB6

— CediRates (@CediRates) May 21, 2025

Watching the currency market and trends... pic.twitter.com/gjzUNKUSkJ

— Sharif Mahmud Khalid, PhD (@SharifMKhalid) May 21, 2025

NDC the neck pressing issokay, they'll die ooo 😂 😂 pic.twitter.com/5OXRmHPyvY

— DKB GHANA (@dkbghana) May 21, 2025

Cedi continues to gain, now trading at GHS11.90 against the dollar – Bloomberg#JoyNews pic.twitter.com/LEawxqMGhC

— JoyNews (@JoyNewsOnTV) May 21, 2025

Cedi is at 11.9 to a dollar now!

— Kwaku Asante (@kwakuasanteb) May 21, 2025

At this point H.E JM @JDMahama Toaso for the next 40 years.

Wooooooow🇬🇭🇬🇭 pic.twitter.com/H8fx4LCSto

— Maleek Basintale (@malik_basintale) May 21, 2025

BREAKING: A dollar to a cedi is now 11 cedis

3y3 Zu

— Popo🇰🇼🇬🇭 (@Popony_J) May 21, 2025

This is becoming scary🤣🤣🤣🤣🤣🤣

.@metrotvgh pic.twitter.com/LHvOATJGBT

— Annie Afua Ampofo (@AAA_Grey) May 21, 2025

The government is now, at least, acknowledging favourable global conditions in its narrative about the cedi’s performance. That’s important, given that U.S. trade tensions are effectively driving up gold prices, which is boosting the forex Ghana earns from gold exports. If you…

— Alfred (@CallmeAlfredo) May 21, 2025

The cedi is bouncing, this is not the moment to celebrate but to strategize.

Stability is what we pray for.🙏🏽🙏🏽

— Baba Sadick (@Big_Afellay) May 21, 2025