Legal practitioner, Kwame Jantuah, has expressed optimism that the Ghanaian cedi could soon reach a single-digit exchange rate against the U.S. dollar, following its recent steady appreciation.
Since the beginning of 2025, the cedi has seen notable gains, with Bloomberg recently naming it the world’s best-performing currency since April.
The cedi is currently trading at approximately GH₵11 to $1, a marked recovery compared to previous years.
Various experts have cited multiple internal and external factors—such as robust gold exports, improved remittance inflows, and better macroeconomic management.
In an interview on Morning Starr with Naa Dedei Tettey, Jantuah described the cedi’s performance as encouraging and achievable.
Jantuah emphasized that reducing the economy’s reliance on imports and strengthening foreign reserves are essential to maintaining the cedi’s gains.
He also pointed out that international financial institutions sometimes negatively influence perceptions about the currency, which can affect its performance.
However, Jantuah is confident that the government can achieve a single digit.
He said, “When was the last time the currency came down to this figure. For the last 4 years, it hasn’t. What has that created? It created a lot of hardship; the cost of food, everything, escalated. Is it [cedi] not a good thing that it’s gone down to 11? The question is, how do we sustain it? And for me on the AGI, the sustenance has got to do with the imports, and also who we shore up our reserves. With the cedi where it is today, if those particular items that demand a lot of dollars for us to import, if we can start manufacturing those things here in Ghana, we’ll be able to sustain the cedi because it’s the demand for the dollar that weakens the cedi. It is the responsibility of the Ministry of Finance and the Bank of Ghana to keep the cedi at a single digit. It helps everybody, everybody now starts changing their monies cedis, it helps the economy, it helps businesses, it helps investments.”
“Sometimes the International Institutions don’t help us, by the way they tend to talk about the currency. …….Who doesn’t want the cedi in single digits? Everybody wants that. And if the government has been able to reduce it from 16 to 11, we expect them to reduce it into single figures… Why isn’t it feasible? Did we know that it was feasible when we brought it down to 11?”
