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0 The Ghanaian cedi is now trading at GHS13.32 to the dollar, signaling renewed hope for economic stability. Citizens welcome the gains, but experts warn of cautious optimism.
In what many are calling a refreshing turn of events, the Ghanaian cedi has shown notable appreciation against major foreign currencies—particularly the US dollar. As of May 6, 2025, the cedi is buying at GHS13.32 and selling at GHS13.82 per USD, according to average exchange rates from selected banks.
This development comes as a welcome sigh of relief for Ghanaians who have grappled with months of currency volatility and rising living costs. Compared to exchange rate highs of GHS16.50+ per USD in late 2024, this improvement has sparked cautious optimism across markets and households.
A Glimmer of Economic Resilience
The improvement in the cedi’s performance is largely attributed to:
- Ongoing economic reforms initiated by the Ministry of Finance and Bank of Ghana aimed at restoring investor confidence.
- Stabilizing inflation trends, driven by tighter monetary policy.
- Enhanced foreign reserves, supported by increased gold and cocoa exports.
- Improved fiscal discipline backed by continued IMF program oversight.
Other Currencies Reflect Similar Trends
The cedi has also strengthened marginally against other major currencies:
- GBP: Buying at GHS17.64 | Selling at GHS18.46
- EUR: Buying at GHS15.02 | Selling at GHS15.64
- CNY: Buying at GHS1.84 | Selling at GHS1.91
- XOF: Buying at GHS0.022 | Selling at GHS0.024
- ZAR: Buying at GHS0.72 | Selling at GHS0.75
Public Reaction: A Mix of Relief and Caution
From market traders to salary earners, the cedi’s appreciation is being welcomed with open arms. Many hope this signals the beginning of a more stable economic period after a year of sharp currency depreciation, rising inflation, and job losses.
“At GHS13.32 to the dollar, I can finally restock my goods with a bit more confidence,” said Mariam Issah, a trader at Makola Market.
However, economists warn that the road to full recovery is still long. They emphasize the need for sustained policy discipline, export-led growth, and productive sector investment to maintain this momentum.
Conclusion
While the cedi’s rebound is indeed heartening, analysts urge Ghanaians and businesses to remain vigilant. A single data point does not make a trend—but it can inspire renewed national confidence and a belief that economic healing is within reach.
