Slump continues as cedi becomes worst-performing currency in sub-Saharan Africa in 2026

Ghana's cedi, which has suffered a steady decline in recent weeks, has now become the worst-performing currency in sub-Saharan Africa and one of the worst performers on the continent. According to multiple analyses, including publications by Reuters using data from the London Stock Exchange Group (LSEG), the cedi has suffered a steady decline so far in 2026, thereby assuming the unenviable position of the worst-performing currency in West Africa on a year-to-date basis.

At the time of the reports last week, which rated the cedi as having declined by 10.28% year-to-date, it traded at 11.36 cedis to the dollar, with a Reuters report particularly predicting a further decline in the week ahead.

“Ghana's cedi is being dragged down by persistent corporate foreign-currency demand, particularly from the energy sector,” the Reuters report said, showing trends of consistent decline of the cedi in recent weeks using data from LSEG.