By Jibril Abdul Mumuni
Accra, June 5, GNA – The Ghanaian Cedi lost value against the United States Dollar in May 2026, depreciating by about 4.6 per cent over the one-month period, based on official Bank of Ghana interbank exchange rate figures.
Data from the Bank of Ghana show that the Cedi moved from GHS 11.19 to one US dollar at the end of April to GHS 11.73 at the end of May, recording a drop of about GHS 0.54 within the month.
The figures show that the Cedi weakened steadily throughout May.
In the early days of the month, the movement was slow. For example, the exchange rate moved from about GHS 11.23 on May 4 to GHS 11.28 by May 8, showing only small changes.
However, the pressure on the local currency increased as the month went on.
By May 13, the rate had reached about GHS 11.34 per dollar, and by May 20 it had risen further to GHS 11.56, the data showed.
In the last part of the month, the Cedi continued to lose value without any major improvement.
The rate moved to about GHS 11.68 on May 26 before closing at GHS 11.73 by May 29.
GNA
Edited by Agnes Boye-Doe