Exchange Rate in Ghana

Ghana Exchange Rate | Economic News & Forecasts

Ghana - Exchange Rate

Cedi recovers some lost ground at the beginning of Q2

The Ghanaian cedi bounced back at the outset of the second quarter, after depreciating sharply in Q1. On 12 April, the cedi ended the day at 5.19 per USD, appreciating 6.4% over the same day in March. Nevertheless, it was still down 7.1% on a year-to-date basis and down 14.4% in year-on-year terms.

The prospect of Ghana exiting its four-year IMF bailout program, coupled with a surprise rate cut by the Central Bank in January, viewed as premature by some analysts, unsettled markets and weighed heavily on the currency in the first quarter. The Central Bank, constrained by targets set under the IMF program to sustain a certain level of international reserves, could not intervene to prop up the weakening currency. However, the sharp selloff, fueled by speculation, was short-lived as the currency rebounded at the outset of Q2. With the country now having exited the IMF program on 2 April and the Bank now being able to intervene in the currency markets, the cedi has recovered some of the losses incurred.

FocusEconomics Consensus Forecast panelists continue to take into account recent developments and currently see the cedi ending 2019 at 5.47 per USD and 2020 at 5.77 per USD.

Ghana - Exchange Rate Data

2013  2014  2015  2016  2017  
Exchange Rate (vs USD)2.37  3.19  3.81  4.30  4.54  

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Ghana Exchange Rate Chart


Ghana Exchange Rate
Note: Exchange rate, GHS per USD (eop).
Source: Thomson Reuters

Ghana Facts

ValueChangeDate
Exchange Rate5.480.0 %Sep 04
Stock Market0.10.0 %Sep 04

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