The Cedi has made a strong comeback, gaining more than 42% against the US dollar as of June 2025. This sharp rise signals a major turnaround for the economy after almost two years of steady decline.

Bank of Ghana Governor, Dr. Johnson Asiama, highlighted this during the Graphic Business/Stanbic Bank Breakfast Meeting held on Tuesday, 15th July, at the Labadi Beach Hotel under the theme: “Sustaining Forex Gains: Business and Economic Impact.”

Delivering his keynote address, the Governor stated, "the Ghanaian Cedi has appreciated by over 42% year-to-date as of June 2025, reversing nearly all the losses incurred in 2022 and 2023," stressing that the rising cedi must go beyond numbers and lead to real change.

The Governor further noted that Ghana’s gross international reserves now stand at US$11.1 billion, representing 4.8 months of import cover up from US$8.98 billion at the end of 2024.

He added that the country recorded a trade surplus of US$4.14 billion in the first four months of 2025, driven by export growth of over 60%, mainly from gold, cocoa, and oil.

According to him, the current account surplus also saw significant improvement, reaching US$2.12 billion in Q1 2025, compared to just US$66 million during the same period in 2024.

Dr. Asiama noted that remittance inflows remain resilient, and Ghana’s IMF-supported programme has successfully passed all reviews. These achievements, he said, have contributed to a sovereign credit rating upgrade by S&P Global Ratings from Selective Default to CCC+.

He emphasized that these outcomes “represent more than just statistical improvement. They are a restoration of macroeconomic credibility, the kind that markets, investors, and citizens respond to withconfidence."

The Governor credited the cedi’s appreciation to deliberate and disciplined economic policies crafted in lockstep between the central bank and the Ministry of Finance.

"At the Bank of Ghana, we maintained a firm disinflation stance—raising and holding the monetary policy rate at 28%, conducting active Open Market Operations (OMO) to absorb excess liquidity, and enforcing discipline in the foreign exchange market through structured FX auctions and forward guidance,” Mr Asiamah expressed.