Is Ghana Cedis Stronger Than America’s Dollar?
X-based blog, @Africanhub claims that Ghana’s currency is doing better than USA currency. The post which was shared on February 8, 2026, had a graphic of the U.S. President Donald Trump and Ghanaian President, John Mahama with the caption, “Ghana’s 🇬🇭 currency is doing better than USA 🇺🇸 currency.”
When this report was published, this claim had about 105,000 views and over 10,100 replies, reposts, quotes, likes, and bookmarks
What Does “Best-Performing Currency” Mean?
When economists or financial analysts describe a currency as “best-performing,” they are usually talking about percentage change over a specific period, not overall value. A currency that was previously weak can record a strong rebound and outperform others in terms of growth rate, even if it remains relatively low in value.
In Ghana’s case, the cedi had suffered heavy depreciation in previous years. When it later gained value against the U.S. dollar, those gains appeared large in percentage terms, making it stand out in performance rankings. The U.S. dollar is widely used in the international market because it is seen as a stable and reliable store of value. Its strength comes from the size and stability of the U.S. economy, the liquidity of its financial markets, and the trust that global investors and governments place in it. Many countries hold the dollar as a reserve currency, and it is commonly used in international trade, commodity pricing, and cross-border transactions. This widespread acceptance means that even currencies with high growth rates or strong rebounds are often measured against the dollar, reinforcing its role as the benchmark for global economic value.
How Did The Cedi Improve?
The cedi’s recent appreciation has been linked to several factors, including tighter monetary policy, improved foreign exchange inflows, export earnings, and international financial support programs. These measures helped stabilise the currency after periods of volatility, leading to short-term gains against the dollar.
Is The Cedi Stronger Than The US Dollar?
No. Strength and performance are not the same thing. The U.S. dollar remains far stronger in absolute terms. Exchange rate data from the Bank of Ghana shows that one U.S. dollar currently exchanges for 10.99 GHC. This means the dollar holds more value and purchasing power globally than the cedi.
Daily Interbank FX Rates Source: Bank of Ghana website
CONCLUSION
While the cedi has recently shown strong gains in percentage terms, this reflects a rebound from prior depreciation rather than surpassing the dollar in value or global strength. The U.S. dollar remains far stronger in absolute terms and continues to dominate international trade and finance. In short, the cedi’s recent performance highlights a positive trend for Ghana’s economy, but it does not make the cedi more valuable or more powerful than the U.S. dollar.
