D Since January 1, 2023, the Ghanaian cedi has lost approximately 5.01% in value against the US dollar on the foreign exchange or dice markets Tail.

In December 2022, the cedi recorded a significant gain of 27% in value against the US “greenback” to reduce its losses since the start of the year due to Ghana's staff-level agreement with the Monetary Fund international. The local currency sells for about 12.90¢ on average at exchange offices according to Joy Business checks. This is practically the same case with regard to the performance of the cedi against the pound and the euro. The cedi trades at 13.40¢ and 15¢ for the euro and the pound respectively.

As for the analysts, they hope that the implementation of the “gold for oil” exchange program should tame companies' demand for dollars and provide support to CEDI. However, this program supported by the IMF will help control the strong depreciation of the CEDI. According to Bloomberg, the Ghanaian Cedi ended 2022 as the second weakest currency on the African continent with a year-to-date loss of 38.86% against the US dollar.