Accra: The Ghana cedi opened the first week of February 2026 trading at GHS10.97 to the US dollar on the Bank of Ghana's interbank foreign exchange market.
According to Ghana Web, data released by the central bank on Wednesday, February 4, 2026, showed the US dollar was quoted at a buying rate of GHS10.96 and a selling rate of GHS10.97, reflecting a relatively narrow spread on the official market.
Other major currencies posted modest movements. The euro traded at GHS12.94 on the buying side and GHS12.96 on the selling side, while the pound sterling was quoted at GHS15.01 for buying and GHS15.03 for selling.
However, rates at forex bureaus remained significantly higher, underscoring continued pressure on the local currency. The US dollar was being bought at GHS11.50 and sold at GHS11.90, a much wider margin compared to the Bank of Ghana's interbank rates.
The euro traded between GHS13.30 and GHS14.20 at the bureaus, while the pound sterling ranged from GHS15.40 to GHS16.30.
These elevated bureau rates point to strong demand for foreign currency amid constrained supply, a pattern commonly observed at the beginning of a new financial year as businesses increase import-related transactions.
Meanwhile, the Bank of Ghana is expected to sustain its market interventions in the months ahead to curb excessive volatility and stabilise the cedi.
Market participants will also be closely monitoring upcoming monetary policy decisions, as well as external inflows, for signals on the near-term outlook of the local currency.