For the 16th October 2025 pricing window, the cedi appreciated sharply from GHS 12.63 to GHS 11.21 per dollar, marking an 11.22% gain. 

This strong rebound in October alone nearly reversed the 13.33% depreciation recorded in Q3 2025, signaling renewed investor confidence and improved stability in the local currency.

Market analysts attribute the cedi’s rally to the BoG’s shift to spot forex sales, which improved market efficiency and dollar liquidity.