Cedi weakens to ¢11.13 as christmas-season import demand intensifies

The Ghana cedi closed the week weaker on the interbank market, trading at GH¢11.13 to the US dollar as of Friday, November 21, 2025.

The marginal depreciation signals continued pressure from major foreign currencies, partly driven by heightened demand for dollars ahead of the Christmas trading season.

According to Bank of Ghana data, the dollar was buying at GH¢11.11 and selling at GH¢11.13.

The British pound traded at GH¢14.55 buying and GH¢14.56 selling, while the euro was quoted at GH¢12.80 buying and GH¢12.61 selling.

These rates compare to GH¢10.96 (buying) and GH¢10.98 (selling) for the dollar just a week earlier, signalling sustained pressure on the local currency.

The pound and euro have also seen similar upticks.

On the forex bureau market, rates were significantly higher, with the dollar trading around GH¢12.35, the British pound at GH¢16.30, and the euro at GH¢14.20 – figures that show demand conditions outside the official interbank environment.

The latest depreciation is consistent with an annual trend where traders increase their demand for forex to restock goods for the festive season.

The Christmas period typically sees a surge in imports of electronics, clothing, beverages, household items and assorted consumer goods, which fuels elevated demand for the dollar.

Traders at major trading hubs say heightened import costs, combined with rising freight charges and tighter supplier credit terms are pushing them to acquire dollars earlier than usual.

Some importers warn that if the current depreciation persists, consumers may face higher retail prices in December as businesses adjust to protect their margins.

The coming weeks will remain crucial as seasonal foreign exchange pressures peak ahead of Christmas.