Story perspectives

Ghana's Cedi Soars 41% on Gold Purchases and Reforms

1/4/2026

Summary

Story summary

The Ghanaian cedi rose 41% against the U.S. dollar in 2025, marking its first annual gain since 1994.
The rise followed increased gold purchases by Ghana's central bank, boosting foreign reserves 24% to $11.4 billion.
In May 2025 the government launched GoldBod to buy gold from small-scale miners, expanding formal exports and reducing smuggling.
Ghana's restructured dollar bonds returned over 30%, which has spurred discussions on mining reforms across Africa.

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Story summary

The Ghanaian cedi rose 41% against the U.S. dollar in 2025, marking its first annual gain since 1994.
The rise followed increased gold purchases by Ghana's central bank, boosting foreign reserves 24% to $11.4 billion.
In May 2025 the government launched GoldBod to buy gold from small-scale miners, expanding formal exports and reducing smuggling.
Ghana's restructured dollar bonds returned over 30%, which has spurred discussions on mining reforms across Africa.