PwC predicts medium-term stability for cedi despite recent pressure

PricewaterhouseCoopers (PwC) Ghana has expressed confidence that the Ghana cedi will remain broadly stable over the medium term, despite experiencing renewed pressure in recent weeks.

Speaking on the sidelines of the launch of PwC Ghana’s 2026 Banking Survey, the Country Senior Partner of PricewaterhouseCoopers Ghana, Vish Ashiagbor, said recent interventions by the Bank of Ghana to increase dollar liquidity have helped calm the foreign exchange market and strengthened confidence in the local currency.

According to Mr Ashiagbor, the central bank’s recent injections of foreign exchange have eased pressure on the cedi and are expected to support exchange rate stability in the months ahead.

“We've seen the cedi come under a little bit of pressure recently, but we've also seen in the last couple of days Bank of Ghana injecting some dollars into the market to stabilise the cedi. From a medium-term point of view, we continue to believe that the cedi will continue to operate within its current trading band,” he said.

His remarks follow the Bank of Ghana’s intervention in June 2026, during which it injected a total of US$2.01 billion into the foreign exchange market to meet increasing demand for dollars and support the stability of the cedi.

The intervention included US$1.2 billion provided through the central bank’s Forex Intermediation Programme and a further US$811 million under its Foreign Exchange Intervention Programme.

PwC believes these measures, together with continued monetary policy actions, should help sustain stability in the foreign exchange market and support confidence in the Ghanaian economy.