Cedi Depreciation Eases to 5.3%; Stability Against Dollar Witnessed Since February 19 – Finance Minister
The Ghanaian cedi has remained stable since February 19, 2025, due to targeted foreign exchange (FX) interventions by the Bank of Ghana (BoG) aimed at boosting liquidity and restoring market confidence, according to Finance Minister, Dr. Cassiel Ato Forson.
Addressing Parliament, Dr. Forson noted that as of March 14, 2025, the cedi had depreciated by 5.3% against the US dollar, compared to 5.7% in the same period of 2024.
He attributed the depreciation to tight FX liquidity, increased demand from the energy sector, and commercial transactions.
To ensure exchange rate stability, the government plans to introduce several measures to complement BoG’s monetary and exchange rate policies. These include:
- Establishment of GoldBod to enhance forex generation and accumulation to support the cedi’s stability.
- Continuation of BoG’s FX forward auctions to provide liquidity and stabilize the currency.
- Strong fiscal consolidation through public sector spending cuts and deficit reduction to ease pressure on the exchange rate.
- Implementation of the 24-Hour Economy import substitution drive, promoting local production of key imported products to reduce forex demand.
The government remains committed to ensuring macroeconomic stability, with these measures expected to mitigate exchange rate volatility and strengthen investor confidence.
0.4% is not a significant achievement. we need to stop the politics ,fold our sleeves and fix the economy. The Govt should pay attention to the roads being fixed from amasaman to nsawam and the winneba stretch. these roads are major arteries that significantly affect economic activity.