According to Forbes, the cedi’s value of GH¢10.93 per US dollar makes it one of the strongest currencies on the continent.

The Tunisia dinar came 1st with a currency value of 2.90 per US dollar. It was followed by the Libyan dinar and Morocco dirham in 2nd and 3rd respectively.

In 5th, 6th, 7th and 8th places were Botswana pula, Seychelles rupee, Eritrea nakfa and Swaziland lilangeni.

Rounding up the top 10 were the South Africa rand in 9th and Namibia dollar in 10th.

The World Bank stated that Ghana’s currency was strengthened by tight monetary and fiscal policies, increased export revenues buoyed by higher prices of gold and cocoa, and improved market sentiment.

Meanwhile, the cedi appreciated by a record 27.75 per cent to one American greenback in the retail market in 2025.

It traded at GH¢12.30 to one US dollar at the forex bureau. The Bank of Ghana, however, quoted the cedi at GH¢10.45 to one US dollar.

The International Monetary Fund (IMF) in its recent Staff Report said the Bank of Ghana (BoG) was actively managing the foreign exchange market, while increasing its footprint.

“Since programme approval, the BoG has taken an increasingly active role as an intermediary in the FX [forex] market on the back of stronger BoP (Balance of Payments) inflows,” it said.

It added that the Domestic Gold Purchasing Programme had been the key source of these inflows, which also included cocoa inflows and repatriation requirement on extractive sector export proceeds.