Where does the Ghanaian cedi stand today? As of May 28, 2026, the USD/GHS spot rate hovers around 11.7 cedis per dollar on major FX platforms. Trading Economics pegs it at 11.72, up 0.51% on the day. XE's mid-market rate shows 1 USD = 11.6954 GHS at 17:47 UTC. Retail platforms like Revolut and WorldRemit quote similar levels, ranging from 11.58 to 11.70. The cedi's inverse rate sits at roughly 0.0916 USD per GHS.
The recent short-term picture? Not great. Over the past month, the cedi weakened about 4.9% against the dollar. Back in late March 2026, USD/GHS traded near 10.99. Now it's 11.72. That's a steady drift downward. The 30-day GHS/USD range shows a high of 0.0900 and low of 0.0858, with the current 0.0916 quote near the top end, suggesting a mild bounce in very short-term terms.
Zoom out to the medium term and the story gets wild. Trading Economics reports the cedi appreciated roughly 29.1% over the last twelve months. Yes, you read that right. The currency hit an all-time low of around 16.4 per USD in November 2024, then staged a dramatic comeback. By September 2025, the rate had improved to about 12.25 GHS per USD. The cedi went from one of the world's worst-performing currencies during 2021 to 2024 to the best-performing in 2025. Quite the turnaround.
But that rally appears to be fading. The gentle slide in recent months suggests the euphoria is over. The structural backdrop remains fragile. Ghana's cedi—the country's fourth historical currency, subdivided into 100 pesewas—has been on a rollercoaster. In August 2022, it traded around 10 per USD. By October 2022, it sank to roughly 15. Then came the November 2024 nadir at 16.4. Understanding the market drivers affecting USD/GHS is crucial for forex traders navigating this volatile currency pair.
The Bank of Ghana publishes official inter-bank rates, but market reality often diverges. The central bank continues to deploy monetary policy tools and foreign exchange interventions aimed at dampening volatility in the currency markets. Several fundamental factors, including commodity prices, fiscal deficits, and external debt levels, continue to weigh on the cedi's medium-term outlook. Right now, the cedi's gentle depreciation trend looks set to continue. No drama, just a slow drift.
