Ghana cedi surges 40-50% in 2025, outperforming rand to lead African currencies

The West African currency's sharp appreciation against the dollar marks a significant turnaround, though recent inflation data suggests underlying price pressures remain.

By Handelsavisen Newsroom · Automated 2026-07-16 15:26 UTC · 1 min read Last updated: 2026-07-16 20:07 UTC

The Ghanaian cedi has emerged as one of Africa's strongest performers, appreciating roughly 40% to 50% against the US dollar in 2025.

This substantial gain has allowed the currency to outpace the South African rand and rank among the continent's top currencies for the year, according to reporting from The Rio Times.

7% in May, marking the third consecutive month of rising prices.

The cedi's rally represents a notable shift in sentiment for the West African economy, which has historically struggled with currency volatility.

The strength against the greenback suggests that market participants are pricing in improved macroeconomic stability or successful policy interventions over the past year.

However, the currency's gains face headwinds from domestic price pressures.

Ghana's annual inflation rate accelerated sharply to 5.3% in June, up from 3.7% in May, marking the third consecutive month of rising prices.