Cedi Stability Expected to Continue as Government Links Currency Performance to Housing Affordability

Accra, Ghana — October 8, 2026

Ghana’s Deputy Minister for Finance, Thomas Nyarko Ampem, says the Ghanaian cedi is expected to remain stable, arguing that a predictable exchange rate is important for households and businesses planning their finances.

Ampem made the remarks at the National Conference on Housing and Finance, where he linked currency stability to the ability of families to manage housing-related expenses without having to constantly anticipate major exchange-rate movements.

According to the latest Bank of Ghana interbank data, the US dollar traded at a weighted median rate of GH¢11.83 on October 7, 2026, with a buying rate of GH¢11.8241 and selling rate of GH¢11.8359.

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Stability and household planning

Ampem said exchange-rate predictability is particularly significant for households whose earnings are denominated in cedis. Large currency swings can increase the cost of imported construction materials and other goods while making long-term financial planning more difficult.

He argued that families should be able to make decisions about housing without having to continually forecast movements in the foreign-exchange market.

The Deputy Minister also said the government’s housing strategy would go beyond simply expanding access to finance. He identified clear land ownership, realistic construction costs, reliable demand, infrastructure and predictable approval processes as important elements in reducing the risks associated with housing development.

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Bank of Ghana sees continued currency resilience

The government’s optimism comes against a backdrop of improving macroeconomic conditions.

In its September 2026 monetary policy assessment, the Bank of Ghana said the cedi was expected to remain stable. The central bank also reported that Ghana’s economy expanded by 6.0% in the second quarter of 2026, while the country’s trade position remained strong.

The Bank of Ghana reported gross international reserves of approximately US$12 billion as of September 22, equivalent to about 4.5 months of import cover. It also noted that Ghana recorded a trade surplus of US$8.9 billion by August 2026, supported by strong export performance.

However, the central bank has also highlighted risks that could put pressure on the currency. These include higher energy prices, geopolitical tensions, supply-chain disruptions and increased external payment obligations.

“Bank of Ghana Monitors Exchange Rate Stability”

Inflation remains a factor

Ghana’s inflation picture also remains important to the outlook for the cedi. Bank of Ghana data showed headline inflation at 5.0% in August 2026, with non-food inflation higher than food inflation. The central bank maintained its policy rate at 14% at its September meeting.

For the government, maintaining currency stability will therefore require continued fiscal discipline, stronger production and exports, investment and adequate foreign-exchange buffers.

Ampem previously said Ghana had moved from stabilising the immediate economic situation to building a more productive and resilient economy, with government and the private sector expected to play complementary roles.

For households and businesses, the durability of the cedi’s recent stability will remain closely watched, particularly as exchange-rate movements affect imported goods, construction costs, investment decisions and the broader cost of living.