The Ghanaian cedi is Africa’s fourth most valuable currency against the US dollar, behind only those of Tunisia, Libya and Morocco.
An October ranking by Nigeria’s The Nation newspaper, based on the Forbes currency calculator, puts the cedi at GH¢11.58 to the dollar.
On Friday, the Bank of Ghana’s reference rate was about GH¢11.65 to the dollar.
Tunisia’s dinar leads at 2.98 to the dollar, followed by Libya’s dinar at 6.39 and Morocco’s dirham at 9.81.
Botswana’s pula completes the top five at 13.76 to the dollar. The cedi is the only West African currency in the group.
South Africa’s rand, the continent’s most traded currency, is at about 16.5 to the dollar.
The ranking reflects how many units of each currency a dollar buys, not how the currency has performed. In 2022, IEA research director Dr John Kwakye said the cedi had the third-highest value in Africa, not the third-strongest currency.
That followed a historic 2025, when the cedi broke a 30-year run of annual losses against the dollar.
Bank of Ghana Governor Dr Johnson Asiama said last week that the cedi’s broader recovery remained strong, backed by robust external reserves.
“These developments have contributed to creating a more stable and predictable environment for businesses and investors,” he said.
