President John Dramani Mahama has attributed the recent gains of the Ghana cedi to deliberate economic measures, dismissing suggestions that the improvement resulted from currency controls.
Delivering the 2026 State of the Nation Address (SONA) in Parliament on Friday, the President said currency stability has been a top priority for his administration, and they have successfully delivered on that promise.
“Mr. Speaker, we did not arrest the dollar. We strengthened the cedi to put up a good fight against other currencies. I am pleased to announce to this House that the cedi appreciated by 40.7% against the dollar,” he told Parliament, drawing loud cheers from lawmakers.
The cedi has shown notable resilience in the forex market, reversing months of volatility and easing pressure on importers and households.
While the recent appreciation has sparked debate over its sustainability, the President assured Ghanaians that efforts to consolidate the gains will continue, emphasizing that currency stability is key to controlling inflation, protecting purchasing power, and supporting long-term economic growth.
The cedi opened this week trading at GH¢11.70 in the retail market.
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