PricewaterhouseCoopers (PwC) Ghana has expressed confidence that the Ghana cedi will remain broadly stable over the medium term despite experiencing recent pressure in the foreign exchange market.
PwC Ghana Country Senior Partner, Vish Ashiagbor, said recent interventions by the Bank of Ghana have helped improve dollar liquidity, easing pressure on the local currency and strengthening confidence in its outlook.
Speaking to journalists on the sidelines of the launch of PwC Ghana’s 2026 Banking Survey, Mr. Ashiagbor noted that although the cedi had weakened slightly in recent weeks, the central bank’s actions have helped restore stability in the foreign exchange market.
“We’ve seen the cedi come under a little bit of pressure recently, but we’ve also seen in the last couple of days the Bank of Ghana injecting some dollars into the market to stabilise the cedi. From a medium-term point of view, we continue to believe that the cedi will continue to operate within its current trading band,” he said.
Bank of Ghana Steps In
His remarks follow a major intervention by the Bank of Ghana in June 2026 to support the local currency amid rising demand for foreign exchange.
According to the central bank, a total of US$2.01 billion was injected into the foreign exchange market during the month.
The intervention included US$1.2 billion through the Forex Intermediation Programme and an additional US$811 million under the Bank’s Foreign Exchange Intervention Programme.
The move was aimed at improving dollar liquidity, reducing volatility in the forex market, and maintaining exchange rate stability.
Outlook Remains Positive
PwC Ghana believes the recent interventions have reinforced confidence in the cedi and expects the local currency to remain within its current trading range over the medium term.
The outlook suggests that while short-term fluctuations may continue, sustained policy interventions and improved market liquidity could help preserve stability in Ghana’s foreign exchange market.
