The Ghana cedi lost 5.3% in value to the US dollar in the first quarter of 2025.
According to the Bank of Ghana, the local currency traded at a rate of GH¢15.53 in March 2025 to the American greenback in the interbank market.
In January 2025 and February 2025, the local currency lost 5.3% and 3.9% in value respectively to the US dollar.
Similarly, the cedi depreciated by 9.20% to the euro on the interbank market in quarter one of 2025, going for GH¢16.75.
For the pound, the cedi lost 8.2% in value. It consequently sold at GH¢20.03 to one pound on the interbank market.
Last week, the local unit closed 0.31% stronger week-on-week against the US dollar in the retail market to trade at a mid-rate of GH¢15.90 to one American greenback.
This narrowed the year-to-date loss to 2.36%.
Next week, a team from the International Monetary Policy (IMF) would visit Ghana to commence the fourth review of the US$3.0 billion Economic Credit Facility programme.
The team’s assessment would be focused on the country’s performance under the Fund programme so far and the 2025 Budget.
Analysts believe a successful review could pave the way for another tranche disbursement, which would help BoG’s sell-side intervention. This will consequently help stabilise the cedi.
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