The Ghanaian cedi depreciated 11.21% against the USD since the start of 2023, marking it among African currencies with the Worst Spot Returns. Despite this, the cedi has maintained relative stability against major currencies over the past three months. It is currently trading at an average of 11.6 to the USD on the retail market and 11.00 at the central bank. With easing demand pressures for the USD favoring the cedi, some analysts expect a slow but steady appreciation in the months ahead as inflation, though still high, is predicted to ease.