The Ghanaian cedi depreciated 9.5% against the US dollar in the interbank market during July, according to the Bank of Ghana’s latest Summary of Economic and Financial Data.
The central bank reported the currency traded at an average of GH¢11.55 per dollar for the month, marking a significant slide in the institutional segment of the foreign-exchange market.
This monthly deterioration follows recent signs of fragmentation in Ghana’s FX markets.
Earlier this week, the cedi displayed a split performance, holding steady in the retail segment while weakening further in interbank trading.
The retail exchange rate remained unchanged at an average of GH¢12.05 against the dollar, highlighting a growing divergence between institutional and consumer-facing pricing.
The currency’s weakness reflects ongoing structural imbalances, with demand for US dollars continuing to outstrip available supply.