Ghana Cedi Significantly Appreciates As It Hits GH¢11, Ghanaians React: “Aban Papa Aba”

• President John Mahama has received praise after the cedi's value recently rose significantly against the dollar
• In an X post, Malik Basintale hailed President Mahama for the sharp rise in the value of the currency
• Netizens who saw the post expressed delight at the appreciation of the local currency in the comments section of the now-viral post

The Ghanaian cedi has recorded a significant appreciation against the US dollar, trading at approximately GH¢11.90 per $1.

This marks one of its strongest performances in recent times. On Tuesday, the cedi was trading at GH¢ 12.10, but hours later, the value increased to GH¢11.90.

The current administration, led by President John Dramani Mahama, has been praised for the development.

Challenges the cedi has previously experienced

The Ghanaian cedi has endured a long and difficult struggle to keep pace with the US dollar over the years, performing particularly poorly between 2020 and 2023 when Covid-19 hit.

Ghana's official currency rose from about GH¢ 5.50 in January 2020 to GH¢11.88 in December 2023, per data from the Bank of Ghana.

The cedi's performance worsened over the years, reflecting a steady decline in its value, investor confidence, and the overall stability of the economy.

Ghana, under former President Akufo-Addo's leadership, explored various ways to boost the cedi’s value, but to no avail.

The cedi's relative poor performance over the decades reflects Ghana’s economic challenges, high inflation, dependence on imports, and limited foreign exchange reserves.

The sharp appreciation in 2025 has brought joy among Ghanaians and other consumers who have long grappled with the impact of a weakening currency on inflation and the cost of living.

What may have caused the cedi's appreciation?

Economists argue that the cedi's recent rebound is the result of a combination of internal policy measures and supportive global economic trends.

On the domestic front, the Bank of Ghana’s Gold4Oil program, followed by the newer GoldBod initiative, has played a key role, boosting gold reserves by 40.6% between May 2024 and April 2025.

President Mahama praised for the Cedi's appreciation

Ghanaians have heaped praises on President John Dramani Mahama for the development. Many have credited the President with the cedi's recent rally.

The CEO of the Youth Employment Agency (YEA), Malik Basintale, has hailed the president for the development.

He wrote a heartwarming message on his X handle for the President, urging him to sustain the cedi's momentum.

See the post below:

Reactions after cedi clocks GH¢11.90 per dollar

The news of the value of the cedi appreciating has many people talking. While a number of netizens expressed delight, others advised the government to leverage the development and make life better for Ghanaians.

@FloraAcetyra wrote:

"If this trend holds, great. But Ghanaians need long-term economic relief, not just short-term forex applause."

@General_K88 wrote:

"Single digit, we wait. More vim."

@AbdulRaufIbra20 wrote:

"We saw this already in 2022, relax your eyes, go clear soon. Useless government.

Woman cries out over Cedi appreciation

Earlier, YEN.com.gh reported that a Ghanaian woman was unhappy and opened up about her challenges with the rise in the value of the Ghana cedi.

In a now-viral video, the young woman openly criticised the development, stating that it was bad for people who receive money from abroad.

Netizens who saw the video of the woman speaking about the development expressed mixed reactions in the post's comments section.

Proofreading by Samuel Gitonga, copy editor at YEN.com.gh.

Source: YEN.com.gh