{
  "id": 9499340,
  "title": "Cedi depreciation hits 9.5% as renewed FX pressure weighs on currency",
  "url": "https://urgent.news/2026/09/24/cedi-depreciation-hits-9-5-as-renewed-fx-pressure-weighs-on-currency",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T05:19:00.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/cedi-depreciation-hits-9-5-as-renewed-fx-pressure-weighs-on-currency/"
  },
  "original_language": "en",
  "account": "The Ghana cedi’s value against the US dollar has eroded by 9.5% over the first nine months of 2026, a significant shift from the currency’s robust performance a year ago. As of September, the cedi was trading at approximately GH¢11.55 per US dollar, up from GH¢10.45 at the end of December 2025. The currency’s decline has also been noted against the pound and euro, with a year-to-date depreciation of 9.0% and 7.3% respectively. This comes after a brief respite in August, when the cedi’s depreciation against the dollar slowed down to about 7.1%. The currency had previously strengthened to around GH¢10.95 per dollar earlier in August, before renewed forex pressures pushed it higher. The depreciation marks a shift from the cedi’s positive performance in 2025, where it saw substantial gains against the dollar. According to Bank of Ghana data, the currency closed 2025 at GH¢10.45 per US dollar, a stark contrast to its value of GH¢15.30 at the beginning of the year. The World Bank has pointed to heightened foreign-exchange demand from the energy sector and dividend payments by certain private corporations as catalysts for the pressure on the cedi. Despite these challenges, Ghana has continued to benefit from strong export earnings and improved external balances, suggesting that the demand-driven pressures have not been solely responsible for the currency’s weakening. The Bank of Ghana has characterized the recent exchange-rate movements within the framework of a flexible, market-determined exchange-rate system. The central bank introduced a new Foreign Exchange Operations Framework in September to outline the objectives and principles guiding its interventions, while adhering to its inflation-targeting mandate. The renewed weakness of the cedi arrives as the Bank grapples with balancing competing demands in the foreign-exchange market, including those from businesses and other market participants. Thus, the September data suggest a more challenging currency landscape following the gains observed in 2025, despite Ghana’s macroeconomic indicators continuing to stabilize.",
  "summary": "The Ghana cedi’s depreciation against the US dollar has widened to 9.5% in the first nine months of 2026, marking a sharp reversal from the currency’s strong performance a year earlier.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Adom Online",
        "title": "Cedi depreciation hits 9.5% as renewed FX pressure weighs on currency",
        "url": "https://urgent.news/2026/09/24/cedi-depreciation-hits-9-5-as-renewed-fx-pressure-weighs-on-currency-9523705",
        "published": "2026-09-24T08:01:23.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}