The Ghana cedi has recorded gains against the US dollar over the past two weeks, following a steady supply of foreign exchange from the Ghana Gold Board (GoldBod).

The local currency made slight gains on the interbank market, while exchange rates remained largely stable at forex bureaus.

On the interbank market, the cedi appreciated by 0.09% against the US dollar, 0.14% against the British pound and 0.50% against the euro.

It traded at GH¢11.64 to the dollar, GH¢15.55 to the pound and GH¢12.98 to the euro.

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On the retail market, the dollar and euro rates remained unchanged at GH¢12.08 and GH¢13.60, respectively. However, the cedi depreciated by 0.63% against the pound, trading at GH¢16.00.

The local currency's depreciation since the beginning of the year also eased from 10.76% in September to 10.07% at the end of October 2026.

Databank Research attributed the cedi's improved performance to GoldBod's injection of US$1.011 billion into the foreign exchange market in October, which helped ease pressure on the local currency.

The research firm projects that the cedi could strengthen to GH¢11.41 against the dollar over the next two weeks, despite rising demand for foreign currency ahead of the festive season.

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“With US$800 million earmarked for commercial bank auctions from a US$1.2 billion November 2026 gross intermediation, we expect sustained dollar liquidity to support near-term exchange rate stability,” it said.

Meanwhile, the cedi began the week trading at GH¢12.15 to the dollar at forex bureaus.

DR/MA

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