On social media and in news outlets, there have been rumors that the Ghanaian cedi is the world’s worst-performing currency. The assertions are in keeping with a Graphic Online report that referenced a Bloomberg report.
A story titled “Imports Surge Upends Ghana Cedi’s World-Beating Performance” was published by Bloomberg. According to the report, the Ghanaian currency, which was doing well recently in relation to the US dollar, is currently losing ground.
The story said that this was due to a spike in demand for dollars from businesses that were paying for imports.
But according to Fact-check Ghana from Bloomberg, the Ghanaian cedi isn’t currently the world’s worst-performing currency.
Bloomberg claims that the Ghanaian cedi’s year-to-date gains, which were approximately 50% against the US dollar in June of this year, have been declining. The advances in the cedi declined in July and August.
Currently, according to Bloomberg’s currency ranker, the Ghana cedi has a net gain of 21.99% against the dollar. At 21.99%, the cedi is the second-best-performing currency in the world, after the Russian ruble.
Which currency is the worst-performing currency?
According to Bloomberg’s currency ranker, the Argentine Peso has had the worst performance, losing 24.33 versus the dollar from January 2025.
Following with net losses of 14.11% and 10.66%, respectively, are the Turkish lira and Ethiopian Birr. Therefore, it is not one of the currencies with the worst performance, the Ghana cedi.
Fact-check Ghana has noted that Graphic Online changed its original headline stating that the Ghanaian cedi was the worst-performing currency in the world to the worst-performing currency for the third quarter.
In fact, the Ghanaian cedi has lost around 13% of its gains against the US dollar, which is comparatively the largest loss since July.
Even if the cedi has comparatively lost a lot of value over the period under review, it is still one of the best-performing currencies with a 21.99% net gain and cannot be ranked among the worst-performing ones in the world right now.
In conclusion, claims that the Ghana cedi is the worst-performing currency in the world now are completely false.