Ghana's cedi gains as GoldBod's dollar auctions boost liquidity
Databank Research expects the cedi to firm to GH¢11.41 per dollar on the interbank market in the next fortnight.
Accra — Ghana's cedi has strengthened against the US dollar over the past two weeks, helped by foreign exchange supplied through the Ghana Gold Board's (GoldBod) spot auctions, Joy Business reports.
On the interbank market, the cedi gained 0.09% against the dollar, 0.14% against the pound and 0.50% against the euro, trading at GH¢11.64 to the dollar, GH¢15.55 to the pound and GH¢12.98 to the euro.
At forex bureaus the cedi was going for GH¢12.15 to the dollar at the start of the week. On the retail market, dollar and euro rates were unchanged at GH¢12.08 and GH¢13.60, while the cedi slipped 0.63% against the pound to GH¢16.00.
Losses narrowing
The currency's depreciation since the start of the year narrowed to 10.07% at the end of October, from 10.76% in September.
Databank Research credited October's $1.011 billion of intermediation, offered at a uniform market-clearing rate, with steadying expectations. It said $800 million of a $1.2 billion gross intermediation planned for November is earmarked for commercial bank auctions, and forecast a modest gain to GH¢11.41 per dollar over the next fortnight despite seasonal import demand.
It expects "sustained dollar liquidity to support near-term exchange rate stability."
Source: MyJoyOnline, 11 November 2026.
