Seasonal demand for foreign exchange is once again putting pressure on the Ghanaian cedi as import-dependent businesses move to secure dollars, pounds and euros ahead of the peak Christmas trading period.
The annual surge in fourth-quarter demand has intensified competition for limited forex supply, unsettling traders who rely on predictable access to foreign currency to restock goods for the festive season.
The impact is already visible across the market. While the interbank rate quotes the dollar at GH¢11.43, the pound at GH¢15.21 and the euro at GH¢13.28, retail pricing tells a markedly different story.
At forex bureaus, the dollar is selling at around GH¢12.30, with the pound and euro trading at GH¢16.40 and GH¢14.40 respectively.
The widening spread between official and retail rates has become a key signal of tightening conditions, reflecting growing competition among importers and increasing pressure on dealers struggling to meet demand.
Despite these strains, the Bank of Ghana continues to intervene, having injected an estimated US$10 billion into the market between January and November 2025 to help stabilise the currency.
The Central Bank maintains that it is closely monitoring liquidity pressures and stands ready to deploy additional monetary policy tools to contain volatility as the festive season approaches.
The coming weeks will be crucial because of the balance between seasonal demand and policy response likely to determine how the cedi ends the year.
Source:https://citinewsroom.com/
