Ghana's Cedi Records Historic Annual Gain Against US Dollar for First Time in 30 Years

In a remarkable turn of events, Ghana's currency, the cedi (GH¢), has achieved its first annual gain against the US dollar ($) in over three decades, appreciating by 41% in 2025. This significant performance positions the cedi as the best-performing currency among 144 tracked currencies worldwide, second only to the Russian ruble. Key factors contributing to this historic gain include rising gold prices and a decrease in demand for the dollar. The Bank of Ghana's strategic increase in gold purchases has bolstered international reserves by 24%, bringing them to $11.4 billion. Additionally, the establishment of the Ghana Gold Board (GoldBod) has further regulated gold purchases, enhancing the cedi's value. Analysts anticipate that this upward trend for the cedi will continue into 2026, reflecting a positive outlook for Ghana's economy.