The Ghana Cedi has appreciated against the US Dollar for the third consecutive week, trading at GH₵12.40 to the dollar, the strongest rate in 18 months.
The Bank of Ghana attributes the improvement to increased foreign exchange inflows from gold and cocoa exports, improved fiscal discipline, and growing investor confidence following Ghana's successful IMF program completion.
Traders and importers in Kumasi's Kejetia Market have welcomed the development. "When the cedi is strong, our costs go down and we can offer better prices to customers," said textile trader Maame Ama.
Economists caution that the gains must be sustained through structural reforms. "The fundamentals are improving but we need to reduce our import dependency and grow domestic production," said Dr. Kweku Acheampong of KNUST's Economics Department.
The government has set a target of maintaining the cedi within a GH₵12-13 band against the dollar through the end of 2026.
