The Ghana cedi was ranked as the 4th best-performing currency in Africa in July 2025.
According to the Forbes Currency Converter, the local currency traded at GH¢10.42 with a year-to-date gain of about 30%.
The Tunisian dinar was the best-performing currency on the continent.
It was followed by the Libyan dinar and Moroccan dirham.
From 5th to 10th positions were the Botswana pula, the Seychellois rupee, the Eritrean nakfa, the South African rand, the Lesotho loti and the Namibian dollar.
In the outlook, the Ghana cedi is expected to exhibit some stability to the US dollar and other major foreign currencies because of the improved macroeconomic environment, vis-à-vis a strong international reserves of more than 4.0 months of import cover.
The International Monetary Fund in a recent press conference, said, “Faced with large policy slippages and reform delays at end-2024, the new administration has taken bold corrective actions to maintain the programme [Economic Credit Facility] on track. Combined with ongoing reform efforts and an improved external position, the corrective measures are set to support Ghana in reaching the goals of economic stabilization, rebuilding resilience, and fostering higher and more inclusive growth”.
The Fund added that the authorities are strongly committed to restoring fiscal discipline and addressing the structural weaknesses that led to the slippages, stressing. they have passed a 2025 budget consistent with the programme’s objectives and enacted an enhanced fiscal responsibility framework.
These assertions support a stable cedi going into the peak season.
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Source: myjoyonline.com
