Ghana's cedi is up 40% — and that's a trap for diaspora senders

What happened. The cedi has gained more than 40% against the dollar this year, and Bank of Ghana data shows formal remittance inflows falling sharply as some diaspora senders hold back — one account put the drop near 50%. In parallel, the central bank is pushing “Remit2Invest,” courting diaspora dollars into structured investment and exploring a diaspora bond. Ghana logged a record $7.8 billion in remittances in 2025.

Why this matters to you. A strong cedi means your dollar buys fewer cedis than it did months ago, so the temptation is to wait for it to weaken before sending. But the bills at home — school fees, medical costs, funerals, rent — have not paused for the exchange rate.

The decision — don’t let FX timing override real needs. Trying to time the cedi is speculation, not budgeting, and the family expense that comes due this month does not care what the rate does next month. If the need is real and now, send for the need. Treat the exchange rate as a reason to compare providers and shave transfer costs, not as a reason to delay support your family is actually relying on. Save the rate-timing instinct for any future investment play — like the diaspora products BoG is building — not for the grocery money.

— TWB Newsroom