In 2025, the Ghanaian cedi saw a historic 41% gain against the US dollar, its first annual increase since at least 1994. Driven by soaring gold prices and a drop in inflation (6.3% in November), the Bank of Ghana boosted foreign reserves to $11.4 billion, making the cedi the second-best performing currency globally after the Russian ruble. Analysts warn that continued fiscal discipline and economic reforms will be crucial to sustaining this momentum.
