Ghana’s cedi weakened further against major trading currencies this week, raising concerns of possible price increases for consumers ahead of the peak Christmas shopping season.
As of Friday, November 21, 2025, the cedi closed at GH¢11.13 to the US dollar on the interbank market, according to Bank of Ghana data. This marks a steady slide from GH¢10.98 just a week earlier, reflecting intensified demand for foreign currency as importers rush to secure goods for the festive period.
The British pound and euro also posted gains, trading at GH¢14.56 and GH¢12.61 respectively on the interbank market. Rates were considerably higher at forex bureaus, where the dollar hovered around GH¢12.35, the pound at GH¢16.30, and the euro at GH¢14.20 — a clear signal of stronger demand outside official channels.
Market watchers say the depreciation is typical for this time of year, as traders stock up on electronics, beverages, clothing and other consumer goods in anticipation of increased holiday spending. However, importers report that this year’s pressures are compounded by rising freight charges and stricter credit terms from suppliers abroad.
At major trading centres, several importers say they are purchasing dollars earlier than usual to avoid further losses. They caution that if the cedi continues to lose ground, shoppers may experience higher prices in December as businesses adjust to offset increased import costs.
With just weeks to Christmas, all eyes are on how the currency performs as seasonal demand peaks — a key factor that will influence market prices and consumer spending during the busiest shopping period of the year.
