Story perspectives

Ghana's Cedi Soars 41%: A Historic Currency Rally

1/4/2026

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Summary

Story summary

The Ghanaian cedi rose 41% in 2025, its first gain against the U.S. dollar in over 30 years, making it the second-best currency globally.
The rally followed the central bank’s gold purchases, raising reserves 24% to $11.4 billion.
May 2025, Ghana launched GoldBod to buy gold from small-scale miners, formalizing exports and reducing smuggling.
Fiscal reforms and debt restructuring boosted confidence, with restructured dollar bonds returning over 30% this year.

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Story summary

The Ghanaian cedi rose 41% in 2025, its first gain against the U.S. dollar in over 30 years, making it the second-best currency globally.
The rally followed the central bank’s gold purchases, raising reserves 24% to $11.4 billion.
May 2025, Ghana launched GoldBod to buy gold from small-scale miners, formalizing exports and reducing smuggling.
Fiscal reforms and debt restructuring boosted confidence, with restructured dollar bonds returning over 30% this year.