The Ghanaian cedi has been named the best-performing currency in Africa for 2025, according to a year-end analysis by the International Monetary Fund (IMF) covering more than 20 major economies on the continent.
IMF data shows that the cedi appreciated by over 40 percent against the US dollar during the year, placing Ghana ahead of other regional currencies tracked in the Fund’s review.
The strong performance follows a period when some earlier assessments by financial services and media agencies had ranked the cedi lower among African currencies. The IMF’s comprehensive data highlights the cedi’s substantial gains relative to its peers.
Economists attribute the rebound to disciplined macroeconomic policies and reforms under the IMF-backed programme. Key factors include tighter monetary policy by the Bank of Ghana, a significant increase in foreign exchange reserves, and higher export inflows, all contributing to currency stability. By the end of 2025, Ghana’s international reserves were reported to be near US $14 billion, boosting investor confidence.
Despite earlier fluctuations and episodes of depreciation during the year, the cedi maintained robust full-year performance against the US dollar, enabling it to outpace other African currencies.
Analysts describe the cedi’s turnaround as one of the most remarkable in recent African economic history, shifting from prior periods of weakness to a position of strength by the close of 2025.
