Claims suggesting that the Ghana cedi is the worst-performing currency in the world have been circulating on both social media and news media platforms. The claims follow a report by Graphic Online, citing a Bloomberg report.
The Bloomberg published a story titled “Ghana Cedi’s World-Beating Performance Upended by Imports Surge”. The story indicated that the Ghanaian currency, which had recently been performing well against the dollar, is now recording losses.
This, according to the story, was because of a surge in demand for dollars by companies paying for imports.
However, checks by Fact-check Ghana from Bloomberg indicate that the Ghana cedi is not the worst-performing currency in the world now.
According to Bloomberg, the year-to-date gains of the Ghana cedi, which was in June this year around 50% against the dollar, have indeed been reducing. The cedis’ gains waned through July and August.
Currently, according to Bloomberg’s currency ranker, the Ghana cedi has a net gain of 21.99% against the dollar. At 21.99%, the cedi is the second-best-performing currency in the world, after the Russian ruble.
Which currency is the worst-performing currency?
The worst-performing currency, according to Bloomberg’s currency ranker, is the Argentine Peso, which has a net loss of 24.33 against the dollar since January 2025. The Turkish lira and Ethiopian Birr follow with net losses of 14.11% and 10.66%, respectively.
The Ghana cedi is therefore not among the list of worst-performing currencies.
Fact-check Ghana has observed that Graphic Online edited its initial headline of the Ghana cedi being the world’s worst-performing currency to the worst-performing currency in the third quarter.
The Ghana cedi has indeed lost about 13% of its gains to the dollar, which is relatively the highest loss since July.
While it is true to say the cedi has relatively lost considerable value within the period of consideration, the currency is still among the highest-performing currencies at a net gain of 21.99% and cannot be counted among the worst-performing currencies in the world currently.
In conclusion, claims that the Ghana cedi is the worst-performing currency in the world now are completely false.
Source: FactcheckGhana
