The Bank of Ghana says it expects the cedi to remain stable in the coming months, citing improved foreign exchange market conditions, easing demand for US dollars and plans to inject about US$1 billion into the market in July.
According to the Bank of Ghana’s latest Monetary Policy Analysis in June 2026, the cedi recorded its first monthly appreciation of more than three per cent in June, reversing earlier depreciation driven by strong demand for foreign exchange.
The central bank says its Forex Intermediation and FX Intervention programmes have increased the availability of foreign currency, helping to reduce pressure on the cedi and improve confidence in the foreign exchange market.
The central bank also noted the positive trend is expected to continue as seasonal demand for dollars eases following major business restocking activities. It also credits new measures aimed at managing foreign exchange demand for reducing pressure on the local currency.
As part of its strategy to support the market, the Bank of Ghana plans to supply about US$1 billion through its Forex Intermediation programme during July. It says the intervention is expected to improve market liquidity further and discourage speculative demand for foreign currency.
Commercial banks are currently selling the US dollar at around GH¢11.55 on the interbank market, with some foreign exchange bureaux quoting rates of about GH¢12.30.
The Bank of Ghana added that, it will continue to monitor market conditions and deploy targeted interventions to maintain stability in the foreign exchange market.
By Coffie Mawuedem Noel
