Recent data from the Forbes currency calculator indicates that the Ghana cedi has been ranked as the fourth strongest currency among Africa’s top 10 performing currencies for September 2025.
According to the Bank of Ghana, the cedi has appreciated by 21 percent against the US dollar year-to-date, reflecting improved market confidence and effective policy measures.
Leading the rankings for the month was the Tunisian dinar, followed by the Libyan dinar in second place and the Moroccan dirham in third. The Namibian dollar rounded out the list in 10th position.
In Ghana, the cedi’s stability has helped ease disinflationary pressures, with headline inflation dropping to 11.5 percent in August 2025, the lowest level since October 2021.
The Bank of Ghana’s decision to reduce its benchmark interest rate to 21.5 percent underscores growing confidence in price stability, bolstered by the currency’s performance.
On the interbank exchange market as of September 24, 2025, the dollar was selling at GH¢12.27, the pound at GH¢16.55, and the euro at GH¢14.42.
South Africa’s rand, for instance, recorded moderate gains in September, supported by higher foreign reserves and the Reserve Bank’s decision to maintain interest rates at 7 percent.
Africa’s 10 strongest currencies in September 2025:
SP/AE
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