Ghana’s cedi is facing renewed pressure as the exchange rate reached GH¢11.12 per US dollar on the interbank market this week, signalling another period of depreciation for the local currency.
The movement reflects rising demand for the dollar amid ongoing import pressures and limited foreign exchange inflows. Several forex bureaus are quoting even higher rates, deepening concerns among businesses and consumers who rely on imported goods.
Economists warn that the weakening cedi could push up the cost of fuel, food items, machinery, and other essentials, with potential knock-on effects on inflation and household spending power. The shift also places added strain on companies that depend on foreign currency to operate.
Analysts say sustained stability will require tighter fiscal discipline, stronger export performance, and consistent foreign exchange management to ease pressure on the market.
The Bank of Ghana is expected to monitor developments closely in the coming days.