The Ghana cedi gained 24.1% against the US dollar in the first five months of 2025.
This is compared with a loss of 5.3% in the first quarter of 2025.
According to the Bank of Ghana, the local currency traded at a rate of GH¢11.85 in May 2025 to the American greenback in the interbank market.
In April 2025, the local currency gained 3.9% in value to the American greenback.
Similarly, the cedi appreciated by 14.1% against the euro in the interbank market in May 2025, going for GH¢13.33.
For the pound, the cedi also gained 16.2% in value. It consequently sold at GH¢15.74 the interbank market.
Last week, the local unit appreciated by 2.3% week-on-week versus the US dollar, taking its year-to-date to 17.7% in the retail market.
It also appreciated 3.5% against the pound and 3.7% against the euro respectively.
This follows an injection of a total of US$425.50 million by the Bank of Ghana into the retail market.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
