The Ghana cedi is expected to increase in June 2026 as energy prices continue to drive foreign exchange demand.
A leading economic research firm, IC Insights, recorded that the rapid pace of depreciation could leave rooms for a late year correction.
The Ghanaian currency experienced its weakness of 4.6% in May 2026 as corporate and portfolio-driven forex demand far exceeded the Bank of Ghana’s supply as auction demands reached nearly four times available liquidity.
According to the economic research firm, the surge in foreign exchange demand deepened pressure on the cedi.
Though the cedi withstood the intensified pressure in May 2026 by losing 4.6% against the US dollar as a surge in forex demand from corporates and portfolio calls outweighed supply plus the BoG’s weekly support, depreciation is still expected in June, 2026.
The total foreign exchange demand at the weekly BoG FX auction was US$3.83 billion, nearly 3.8 times the BoG supply, with the unmet demand exerting pressure on the local currency.
“We foresee continued pressure on the cedi as elevated energy prices sustains FX demand. The rapid pace of depreciation, however, leaves room for late-year correction”, the research recorded.
The cedi would increase at GHC12.30 per US in the retail market, while in the interbank market, it would be trading at about GH¢11.74.
Story By Martha Seyram Jackson || Metro Digital
