PwC Ghana Predicts Cedi Will Stay Stable Despite Recent Depreciation Pressure
- PwC Ghana Country Senior Partner Vish Ashiagbor said the cedi is expected to remain broadly stable over the medium term
- Ashiagbor pointed to recent Bank of Ghana dollar injections as a key factor easing pressure on the local currency
- The Bank of Ghana injected US$2.01 billion into the forex market in June 2026 to meet rising dollar demand and support the cedi
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PwC Ghana has projected that the cedi will maintain broad stability over the medium term, despite a recent bout of depreciation that has weighed on the local currency.
Vish Ashiagbor, Country Senior Partner at PwC Ghana, made the assessment while speaking to journalists on the sidelines of the launch of PwC Ghana's 2026 Banking Survey.
Source: Getty Images
Citi News reported that he acknowledged that the cedi had come under some strain in recent weeks but said timely action by the Bank of Ghana had helped steady the foreign exchange market.
Ashiagbor credited the central bank's dollar supply interventions with restoring confidence in the cedi's near-term trajectory.
His remarks follow a significant forex intervention by the Bank of Ghana in June 2026, when the central bank injected US$2.01 billion into the foreign exchange market to address elevated dollar demand.
Cedi depreciates by 8.4% early in 2026
The cedi depreciated by 8.4% against the US dollar during the first five months of 2026.
The May 2026 Economic and Financial Summary, released by the Bank of Ghana, provided updates on the local currency.
The report noted that the latest decline is higher than the 6.6% depreciation recorded over the same period in 2025.
The Bank of Ghana, however, downplayed concerns over the cedi’s early-year depreciation.
Source: YEN.com.gh
