Fitch Solutions predicts that the Ghana cedi will conclude 2025 at GH¢15.50 per US dollar, with an annual average of GH¢15.30.
This is significantly higher than Absa Bank’s end-of-year projection of GH¢14.00. The local unit began the year trading at GH¢15.83 to one American dollar.
In its most recent study, titled “High Gold Prices Will Shield Ghanaian Economy From Tariff Fallout,” the UK-based firm stated that it expected the Bank of Ghana to prioritise maintaining the cedi’s stability, which will be aided by rising gold prices.
However, this will not be sufficient to ensure the cedi’s stability throughout the year.
“We anticipate that the BoG will prioritise maintaining the cedi’s stability, which will be aided by rising gold prices.” Amid persistent uncertainties surrounding US trade policy, market expectations of interest rate cuts by the US Federal Reserve, and ongoing geopolitical concerns, our commodities team expects that gold prices will average a record US$3,100 per ounce this year, up 29.7% from 2024.”
“Coupled with a lower energy import bill due to declining oil prices, this will drive Ghana’s current account surplus to an all-time high of 6.9% of GDP [Gross Domestic Product] in 2025” , the publication stated.
It anticipates foreign exchange reserves to rise from $6.4 billion to $11.5 billion.
“The strengthened external position will enable the BoG to mitigate any bouts of cedi volatility stemming from global risk-off sentiment” , according to its conclusion.
Cedi rises 17.17% vs the dollar
The Ghana cedi continued to strengthen against the US dollar, increasing by 17.17% as of yesterday, May 19, 2025.
It went for GH¢13.50 to one American dollar in the retail sector, solidifying its title as the world’s greatest currency.
Last week, the local unit increased by 2.3% week-on-week against the US dollar and 3.5% against the
