The cedi has regained some ground against major international currencies after GoldBod intervened in Ghana’s foreign exchange market over the past three weeks, although the recovery remains modest.
GoldBod sold US$130 million on the spot foreign exchange market at GH¢11.60 per US dollar in an attempt to support the local currency.
By the end of the fortnight, the cedi had recovered some of its earlier losses on the interbank market. It rose by 1.20% against both the US dollar and pound sterling, closing at GH¢11.65 per US dollar and GH¢15.57 per pound sterling.
The currency also strengthened by 0.16% against the euro to finish trading at GH¢13.04.
In the retail market, the cedi was unchanged against the US dollar at GH¢12.10. It gained 0.32% against the pound sterling, trading at GH¢15.85, and rose 1.11% against the euro to reach GH¢13.50.
GoldBod’s October programme
Under its October 2026 programme, GoldBod planned to supply US$1 billion to commercial banks while providing a further US$500 million to the Bank of Ghana to support reserve accumulation.
The combined US$1.5 billion supply is part of GoldBod’s wider foreign exchange intervention programme. The organisation says the initiative is intended to support the recovery and stability of the cedi.
Despite the recent gains in the interbank market, the cedi began this week trading at GH¢12.15 to the US dollar in the retail market.
Its loss against the US dollar since the beginning of the year stands at about 9.0%.
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