Accra: Databank, in its 2026 Economic Outlook report, has projected that the cedi will stabilise in 2026, ending the year at GHS12.85 to the US dollar. The report highlights key factors influencing this projection, including demand from bulk importers, the energy sector, and upcoming Eurobond payments.
According to Ghana Web, the report notes that sustained gold-backed inflows are expected to enhance the central bank's capacity to manage market expectations and reduce volatility in the foreign exchange market. Beyond domestic fundamentals, the outlook also reflects positive external sentiment, supported by ongoing programme backing from the International Monetary Fund (IMF) and the World Bank.
The report further underscores a gradual shift in global reserve management trends, with some central banks moving away from reliance on the US dollar and increasing their gold holdings. China is identified as leading this shift amid uncertainty surrounding US policy direction. 'We also observe a gradual decline in global central banks' reliance on the US dollar as a reserve currency, with China leading the shift toward gold holdings amid uncertainties surrounding US policy,' the report stated.
Databank Research maintains a neutral-to-positive outlook for the cedi, supported by tighter foreign exchange regulations and resilient reserve buffers considered sufficient to absorb moderate demand pressures.