Following the appreciation of the local currency against major trading currencies, especially the US dollar, British pound, and euro, President John Dramani Mahama has hailed this remarkable achievement by his government.
Delivering the 2026 State of the Nation Address (SONA) in Parliament on Friday, February 27, 2026, he noted that the cedi appreciated by 40.7% against the US dollar, 30.9% against the British pound, and 24% against the euro.
Taking a swipe at former Vice President Dr Mahamudu Bawumia’s earlier remarks that they had “arrested the dollar” during their tenure, President Mahama countered that his administration had instead strengthened the cedi to compete effectively with other currencies.
“We did not arrest the dollar. We strengthened the cedi to put up a good fight against other currencies, and I am pleased to report to this House that the cedi appreciated by 40.7% against the US dollar, by 30.9% against the British pound, and by 24% against the euro,” he said.
Ghana’s economic fundamentals improving – President Mahama
President Mahama further stated that Ghana’s economy has surpassed the $100 billion mark for the first time.
He added that this milestone will soon position the country among the top 10 largest economies in Africa.
He described this achievement as a testament to the resilience and robustness of the local economy during his first term in office.
The cedi is currently buying at GH¢10.66 and selling at GH¢10.67 per dollar on the interbank market as of Friday February 27, 2026.
SA/MA
