economic indicators

Ghana Reference and Economic Indicators

Ghana Reference Rate (GRR) as of March 19, 2026

  • Policy Rate: 14.58%
  • Treasury Bills Discount Rates:
    • 91-Day Bill: 4.78%
    • 182-Day Bill: 6.36%
    • 364-Day Bill: 9.58%
  • Rates on Other Instruments:
    • 2 Year FXR Note: - (not provided)
    • 3 Year FXR Bond: -

Change Analysis from March 13, 2026

  • Policy Rate: No change (0.00%)
  • 91-Day Bill: No change (0.00%)
  • 182-Day Bill: Decrease of -25.09%
  • 364-Day Bill: Decrease of -23.41%
  • 2 Year FXR Note: - (not provided)
  • 3 Year FXR Bond: Decrease of -7.68%

Target Amounts for Treasury Bills (in GHS ‘M)

  • 91-Day Bills: 5,005.00
  • 182-Day Bills: 8,131.00
  • 364-Day Bills: 3,126

Amounts Raised (in GHS ‘M)

  • 91/182/364 Day Bills: Total of 7,991.21 (increase)
    • Previously Raised: 6,137.99 (reported from the last session)
    • Additional Amount: 1,853.22
  • 3 Year FXR Bond: - (specific amount not provided)
  • 5 Year FXR Bond raised from Tender 1999 (issue on March 23, 2026) and Tender 1998 (issue on March 16, 2026)

Ghana Stock Market Indicators on March 19, 2026

  • GSE Composite Index (GSE CI): 15,691.69
    • Change: -217.08 points from 15,908.77 (March 18, 2026)
  • GSE Financial Sector Index (GSE FSI): 9,844.23
    • Change: -391.34 points from 10,235.57 (March 18, 2026)
  • Volume Traded: 36,775,033.00
    • Previous day (March 18, 2026): 6,426,176.00
    • Change: 30,348,857
  • Market Capitalization (M-CAP): 293,463.36
    • Previous day (March 18, 2026): 300,727.78
    • Change: -7264.42

Currency Rates (Buying Rates) on March 19, 2026

  • Dollar (GH¢): 10.9345
    • Previous Rate (March 18, 2026): 10.9145
  • Euro (GH¢): 12.6073
    • Previous Rate (March 18, 2026): 12.5692
  • Pound (GH¢): 14.6118
    • Previous Rate (March 18, 2026): 14.9945
  • SW Franc (GH¢): 13.8030
    • Previous Rate (March 18, 2026): 13.8342
  • Rand (GH¢): 0.6489
    • Previous Rate (March 18, 2026): 0.6500
  • Yuan (RMB) (GH¢): 1.5868
    • Previous Rate (March 18, 2026): 1.5855

African Currency Rates Against USD on March 24, 2026

  • Cote D’Ivoire (CFA): 566.44
  • Egypt (EGP): 52.33
  • Gambia (GMD): - (not provided)
  • Kenya (KES): 129.63
  • Nigeria (NGN): 1,346.3
  • Rwanda (RWF): 1,458.9
  • South Africa (ZAR): 16.88

Commodity Prices on March 19, 2026

  • WTI Crude Oil (Nymex): USD 92.40 (May-26)
  • Brent Crude (ICE): USD 104.11 (May-26)
  • Gold (comex): USD 4,458.10 (Jun-26)
  • Gold Spot: USD 4,419.52 (N/A)
  • Cocoa: USD 3,238.00 (May-26)
  • Cotton: USD 67.53 (May-26)

Inflation Data

  • Current Inflation Rate (March 2026): 3.3%
  • Previous Rate (February 2026): 3.8%

Ghana News Highlights

  • Monetary Policy Shift:
    • Ghana’s central bank is transitioning to a stability phase focused on low inflation and predictable monetary policies. Emphasis on financial sector supervision indicates a move towards sustainable economic growth.
  • Cocoa Sector Liquidity Crisis:
    • The cocoa sector faces significant challenges with licensed buyers lacking funds, leading to unsold cocoa and delayed payments to farmers. This threatens export earnings and exposes structural issues in the industry.
  • MTN Ghana Dividend Announcement:
    • MTN Ghana declared a final dividend of GH₵0.48 per share for 2025. The announcement followed an earlier interim dividend of GH₵0.08 per share and a subsequent announcement of GH₵0.40 discussed at the AGM on March 23, 2026.

Africa News Highlights

  • Dangote Refinery's Impact:
    • The refinery influences Africa's fuel market due to global supply disruptions, prompting a shift towards domestic production and reducing reliance on imports.
  • Economic Growth Outlook:
    • Africa's economies are projected to grow 4% to 4.6% in 2026, driven by trade, policy reforms, and technology adoption despite risks from high debt levels and inflation.
  • S&P Ratings Downgrade for Botswana:
    • Botswana’s sovereign rating downgraded to BBB- due to prolonged weakness in global diamond demand.

Global Business News Highlights

  • China's Economic Position:
    • At the 2026 China Development Forum, leaders emphasized China's stabilizing role amid global economic uncertainties, focusing on innovation and trade.
  • Fintech Award for OpenPayd:
    • OpenPayd received the award for its stablecoin infrastructure, promoting enhanced cross-border payments and digital transactions.
  • UK Market Performance:
    • UK markets show modest gains, with investors responding positively to easing financial concerns in the financial sector.
  • European Car Sales:
    • A rise in car sales driven by consumer interest in electric vehicles, supported by new subsidies and model availability.

Disclaimer

  • This document is intended for informational purposes only. The Institute of Chartered Accountants of Ghana and its affiliates do not guarantee the accuracy or completeness of this bulletin and accept no liability for any loss arising from its use.