Cedi records sharp decline against US dollar in 2026

The Ghana cedi depreciated by 8.4 percent against the US dollar during the first five months of 2026, according to the latest Economic and Financial Summary released by the Bank of Ghana. The decline is higher than the 6.6 percent depreciation recorded during the same period in 2025, signaling renewed pressure on the local currency despite improving macroeconomic indicators. Data from the central bank showed that the cedi weakened from an average mid-rate of 10.95 to the dollar in January to 11…