Ghana’s Cedi Defies Gravity: Crowned 2025’s Best-Performing Global Currency

Move over, Bitcoin—Ghana’s cedi just schooled the forex market. In a year where fiat currencies wobbled like a DeFi stablecoin under scrutiny, West Africa’s dark horse sprinted past the euro, dollar, and even the meme-worthy Zimbabwean gold-backed ZIG.

How’d they pull it off? Strict capital controls? A secret CBDC play? Nope—just old-fashioned fiscal discipline (and maybe a dash of creative accounting). Meanwhile, Wall Street hedge funds are too busy chasing AI tokens to notice real economic momentum.

One trader’s take: ‘This either proves emerging markets can win—or that forex metrics need better algorithms.’ Place your bets before the IMF ‘advises’ Ghana to share the secret sauce.

Ghana Cedi Performance 2025: Inflation, IMF Policies, Gold Exports, and Reserves Boost

Central Bank Gets Tough on Rates

Thus, the Bank of Ghana wanted to be serious about Ghana Cedi performance 2025, and they shocked all of us with a large 100 basis point increase in the rates in March. They raised the policy rate to 28 percent that was supposed to address the Ghana inflation rate 2025 and to attract more foreign funds. They too resorted to these spot-market forex auctions, which among other things helped in circulating more dollars there and prevented simultaneous hoarding of dollars too.

Bank of Ghana Governor Johnson Asiama had this to say:

Gold Prices Surge to Mindboggling Record Highs

Gold exports in Ghana have been on fire this year, and export money jumped from $7.6 billion in 2023 all the way up to $11.6 billion in 2024. Gold prices went from $2,000 per ounce last year to $3,400 in May, which really helped Ghana Cedi performance 2025 in a major way. The Gold Board made this rule that domestic gold buyers have to pay in cedis before exporting, and that boosted foreign reserves growth from just 9 tonnes to 31 tonnes at the time of writing.

IMF Money Comes at Perfect Time

The IMF monetary policies Ghana program brought in $3 billion, and the government suspended about ₵65 billion in debt payments they owed. Treasury bill rates dropped from 28% down to 15%, which made investors feel better about putting money in and also restored confidence. These changes have been keeping Ghana inflation rate 2025 under control and also supporting Ghana Cedi performance 2025 right now at the time of writing.