Ghanaian Cedi Tops List as 15 African Currencies Weaken Against US Dollar

The Ghanaian cedi has emerged as the worst-performing African currency against the US dollar over the past year, according to new data released on June 30, 2025.

The report, compiled by data intelligence platform Statisense on X pages, shows the cedi depreciated by a staggering 32.57% year-on-year, making it the most devalued African currency over the period under review.

Morocco, Comoros, and São Tomé and Príncipe followed with losses of -9.29%, -8.56%, and -8.53% respectively.

Other countries with notable currency depreciation include Cape Verde (-8.49%), Cameroon (-8.33%), Côte d’Ivoire (-8.32%), Tunisia (-7.04%), and Algeria (-3.66%).

Also on the list are Mauritius (-3.55%), Eswatini (-3.39%), South Africa (-3.33%), Sierra Leone (-3.26%), Namibia (-3.26%), and Uganda (-3.23%).

The weakening of these currencies is largely attributed to inflationary pressures, declining foreign reserves, external debt servicing burdens, and global market instability.

Economists have warned that sustained currency depreciation could further affect inflation, investment flows, and the cost of living across the affected countries.

The performance of these currencies is seen as a critical indicator of the need for broader economic reforms and monetary stability across African economies.