The recent depreciation of the cedi has sparked conversations on social media after it crossed the GH¢12 mark per $1 on the interbank exchange market.

This is the first time since May 2025 that the local currency has fallen past this level, despite recording consistent gains against the US dollar in the first half of the year.

As of Tuesday, September 9, 2025, Bank of Ghana data shows the cedi trading at GH¢12.05 to the dollar, reflecting renewed pressure on the local currency amid persistent economic challenges and high demand for foreign exchange.

Cedi depreciates to GH¢12.05 against the US dollar

The development has triggered widespread reactions online, with many expressing shock and concern over how far the cedi’s decline could go.

Despite a marginal drop in headline inflation, the cedi continues to struggle on both the interbank and forex markets, depreciating steadily against the dollar.

Analysts warn that the depreciation is likely to impact fuel prices at the pump in the upcoming pricing windows, further increase the cost of living, and complicate the government’s efforts to achieve single-digit inflation by year-end.

On the BoG interbank market, as of 8:00 AM on September 9, 2025, the dollar was trading at a buying price of GH¢12.04 and a selling price of GH¢12.05.

See the reactions below:

pic.twitter.com/LoNPFuQIGV

— Bank of Ghana (@thebankofghana) September 9, 2025

If you didn’t believe Mahama’s candid words that the Cedi’s truest value is between 10 and 12, then you are on your own. My worry will flare IF its beyond 12.5 heading to 13. Until then, which I know may not be, its still within the range of BoG & MoF, and there should cool heads

— MPK 𓃵 (@MPKwarteng_) September 9, 2025

This guy bought $50k when $ was around ¢11 at Aboki

If he decides to sell his $50k now, he gets nice profit 😂😂 https://t.co/V4okw1DCbI

— Nana Poku (@asaberekwame) September 8, 2025

Just when I was praying for money to clear my cart ei https://t.co/gnklzkLrpm

— suga (@Maabena_) September 8, 2025

Omg! The government has to act fast. They should get it back to 8gh. They should think about Ghanaians ffs. Arghh https://t.co/6uvqXgny0s pic.twitter.com/eNDFIzrdPl

— AbOrƆfOnkAtEƐ tEArEr (@KwekuCyber) September 8, 2025

We saw it hover around 15.0-15.5 for 4 months. That was a relatively stable exchange rate as the fluctuations were minute. Going from that tp 10 and now at 12.20 is messy and shows confused management. Now businesses who borrowed raw materials at 10 have to repay at 12. 🤦🏾

— Lawd (@WMTwai) September 9, 2025

vendors couldn't reduce prices because of old stock but they can increase immediately cos the cedi twitched to the dollar in a split second pic.twitter.com/7OzPvudhjp

— Aᴄᴇ Rʙᴋ♠️ (@ace_rbk) September 7, 2025

4 months ago vs Now pic.twitter.com/s89MO5ov4Z

— CediRates (@CediRates) September 9, 2025

OPEN LETTER TO THE BoG GOVERNOR

Dear Governor,

The current strategy of managing the Cedi to remain below a certain psychological threshold is a self-serving oxymoron. We both understand the pressures you face, but this path is ultimately counterproductive.

Earlier this year,… pic.twitter.com/xwqrFg0oO1

— Hubert Baidoo (@HubertBaid80747) September 8, 2025