The Ghana cedi recorded the steepest maximum depreciation among African currencies monitored by the World Bank in the second quarter of 2026, weakening by nearly 10 percent between March and June, even as the government maintains that the currency will remain stable. The development highlights the contrasting pressures on the cedi, which came under significant pressure following the escalation of the conflict in the Middle East, but subsequently recovered some of its losses. According to the World Bank’s October 2026 Africa Economic Update, the cedi recorded the largest maximum weakening among the currencies tracked between March and June. It was followed by the currencies of Lesotho, Namibia, South Africa and Eswatini, which each recorded maximum weakening of roughly 7 percent. The Seychelles rupee also weakened by almost 7 percent, while the currencies of the Democratic Republic of Congo and Uganda recorded maximum declines of about 6 percent and 5 percent, respectively. The Wo...