The Ghanaian cedi has continued its strong performance against the US dollar, with the Bank of Ghana reporting an interbank selling rate of GH¢10.95 per dollar as of Monday, May 26.
This represents a significant appreciation compared to earlier this month, when the rate hovered around GH¢12.30 per dollar. Even more notably, the current rate is well below May’s average exchange rate of GH¢13.71 per dollar, signaling a robust upward trend.
According to the Bank of Ghana, this surge is driven by improved foreign exchange inflows and effective monetary policies. Analysts also highlight the upcoming $360 million disbursement from the International Monetary Fund in June, which is expected to strengthen Ghana’s foreign reserves and further stabilize the currency.
Economists stress that sustaining this momentum will require continued fiscal discipline and strategic reforms. Meanwhile, the Bank of Ghana maintains vigilant oversight of the forex market to safeguard long-term economic stability and investor confidence.
