GoldBod’s intervention in forex market gives cedi modest reprieve; one dollar going for GH¢12.15 at forex bureaus
By the close of the fortnight, the local currency modestly clawed back some losses in the interbank market.
In the past three weeks, GoldBod's involvement in the foreign exchange market has provided the cedi with a slight reprieve. The Board injected a substantial US$130 million into the foreign exchange market to bolster the value of the local currency. By the end of this two-week period, the cedi had managed to recoup some of its previous losses in the interbank market, appreciating 1.20% against the US dollar and 0.16% against the euro.
However, in the retail market, the cedi held steady at GH¢12.10 against the US dollar and appreciated by 0.32% against the pound sterling to trade at GH¢15.85. It also gained 1.11% against the euro, trading at GH¢13.50. GoldBod had planned to supply a total of US$1.5 billion to commercial banks and the Bank of Ghana for reserve accumulation as part of its October 2026 program, aimed at supporting the recovery and stability of the local currency.
Currently, the cedi is trading at GH¢12.15 against the US dollar in the retail market, marking a 9.0% loss for the year.
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