As of June 5, 2025, the Ghanaian cedi (GHS) is trading at approximately GH₵10.20 to the U.S. dollar (USD), according to Reuters . This rate reflects a period of relative stability, supported by the Bank of Ghana's interventions and increased dollar demand.

Forecasts indicate that the cedi will maintain a range between GH₵15.35 and GH₵15.45 per dollar through the middle of 2025 . This projection suggests a moderate depreciation from current levels, influenced by factors such as inflation, trade imbalances, and fiscal policies.midforex.com

Databank Research anticipates the cedi will end 2025 at around GH₵17.70 to the dollar, with a potential deviation of ± GHp20. This forecast is based on expectations of strengthened gold reserves, improved investor confidence post-elections, and anticipated credit rating upgrades .

Conversely, Standard & Poor's (S&P) projects that the cedi may resume depreciation in the latter half of 2025 due to unresolved structural imbalances, persistent inflation, and fiscal constraints .theghanareport.com+3ourhomelandghana.com+3myblogpay.com+3

Midforex forecasts a gradual depreciation of the cedi, with the exchange rate reaching approximately GH₵15.55 per dollar by the end of 2026 . This trend reflects ongoing economic challenges and the need for structural reforms to stabilize the currency.myblogpay.com+1businessdayghana.com+1

The cedi's ability to "hold" the dollar in the coming months will depend on a combination of domestic economic policies, global market conditions, and investor sentiment. While there is potential for moderate depreciation, the currency's trajectory will largely be influenced by the government's fiscal discipline, inflation control measures, and efforts to bolster foreign exchange reserves.