Ghana’s Cedi Ranked As The Top-Performing Currency Globally

In recent months, the Ghanaian cedi has appreciated by over 33% against the US dollar, emerging as the world’s best-performing currency. This surge is largely fueled by investor optimism surrounding Ghana’s $3 billion IMF bailout, with an initial $600 million disbursement expected shortly.

President John Dramani Mahama welcomed the news, describing it as “a sign of renewed trust in Ghana’s economic future.” He highlighted the importance of strong leadership and international cooperation in achieving this milestone.

The Ghanaian cedi has outpaced over 150 global currencies—including the US dollar and the euro—making significant gains largely attributed to the country’s $3 billion IMF bailout, rising investor confidence, and strong remittance inflows.

Government Statistician Alhassan Iddrisu, speaking in Accra on Wednesday, announced that consumer price inflation had eased from 22.4% in March to 21.2% in April. The cedi’s appreciation played a key role in slowing monthly price increases to 0.8%, primarily due to reduced import costs.

Food inflation also saw a drop, falling from 26.5% to 25%, while non-food inflation declined from 18.7% to 17.9%. “A rally in the cedi reduced the cost of imports,” Iddrisu noted, crediting much of the recent relief in inflation to the currency’s strength.

According to Bloomberg data, the cedi has recorded the highest gains against the US dollar since the beginning of April. This performance has helped boost consumer confidence and ease the burden of imported goods on household budgets.

Ghana 🇬🇭 has the best performing currency in the world right now due to different new policies set by Mahama’s government. pic.twitter.com/vlyyQlIAX3

— Typical African (@Joe__Bassey) May 16, 2025

Source: Nkonkonsa.com