Databank Research has indicated that the Ghana cedi is likely to experience relative stability in the upcoming weeks, bolstered by ongoing foreign exchange inflows and a resurgence of market confidence ahead of the national budget presentation. The research organization noted that the reclassification of gold as a premier liquidity asset under the Basel III “Endgame” reforms has enhanced global confidence in hard assets. This trend could indirectly benefit Ghana”s foreign reserves and overall currency outlook.
The firm also pointed to the anticipated disbursement of USD 385 million from the International Monetary Fund (IMF) in December 2025 as a contributing factor to its optimistic near-term outlook for the cedi. Databank stated, “In the coming weeks, we expect relative stability following the release of pent-up market momentum. Sustained foreign exchange inflows and renewed confidence ahead of the budget presentation should anchor this outlook.”
Recently, the cedi has experienced one of its most significant rallies, driven by enhanced market sentiment and consistent interventions from the Bank of Ghana. In the interbank market, the cedi appreciated by 9.68% against the US dollar, reaching GHS 10.85 per USD, improved by 10.00% against the pound sterling to GHS 14.42 per GBP, and increased by 9.16% against the euro to GHS 12.61 per EUR.
Similar upward momentum was observed in retail market activity, where the local currency rose by 6.53% against the US dollar, closing at GHS 12.25 from GHS 13.05, advanced by 5.54% against the pound to GHS 16.25 from GHS 17.15, and gained 5.26% against the euro to GHS 14.25 from GHS 15.00.
Databank attributed the cedi”s notable appreciation to improved foreign exchange liquidity provided by the Bank of Ghana, which has alleviated negative market sentiment and prompted some participants to sell off their long positions. The firm concluded that while the recent gains of the cedi may slow as market momentum diminishes, the overall outlook remains positive, supported by policy measures, confidence in Ghana”s hard assets, and favorable macroeconomic indicators.
