Databank, in its 2026 Economic Outlook report, has projected that the cedi will stabilise in 2026, ending the year at GH¢12.85 to the US dollar.

According to the report, the projection is influenced by demand from bulk importers, the energy sector, and upcoming Eurobond payments.

It noted that sustained gold-backed inflows are expected to strengthen the central bank’s capacity to manage market expectations and reduce volatility in the foreign exchange market.

Beyond domestic fundamentals, the outlook also reflects positive external sentiment, supported by continued programme backing from the International Monetary Fund (IMF) and the World Bank.

Cedi steady, holds at GH¢10.92 to $1 on January 29

The report further highlights a gradual shift in global reserve management trends, with some central banks reducing reliance on the US dollar and increasing their gold holdings.

China was identified as leading this pivot amid uncertainty surrounding US policy direction.

“We also observe a gradual decline in global central banks’ reliance on the US dollar as a reserve currency, with China leading the shift toward gold holdings amid uncertainties surrounding US policy,” the report stated.

Databank Research maintained a neutral-to-positive outlook for the cedi, underpinned by tighter foreign exchange regulations and resilient reserve buffers considered sufficient to absorb moderate demand pressures.

SP/MA

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