• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Aggressive Cedi Strengthening Was a Disruption, Not Stability – Prof. Godfred Bokpin Asserts 

2 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
2
6.6k
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Aggressive Cedi Strengthening Was a Disruption, Not Stability – Prof. Godfred Bokpin Asserts 

Economist and Professor of Finance at the University of Ghana, Prof. Godfred Bokpin, has described the recent sharp appreciation of the Ghanaian cedi as a “disruption” rather than a sign of sustainable stability in the foreign exchange market.

Speaking in a recent interview, Prof. Bokpin asserted that the strengthening of the cedi was not driven purely by market fundamentals of demand and supply, but rather by deliberate interventions from the Bank of Ghana (BoG), which had long targeted a specific exchange rate band.

“I had indicated much earlier that the central bank was targeting a certain exchange rate. They just didn’t want to communicate that to the markets at the initial stage,” he stated.

According to him, the strengthening of the local currency was largely engineered through central bank actions, which, while effective in the short term, created significant uncertainty and disrupted planning for businesses and investors.

“What we witnessed in terms of the strength of the local currency was not just the forces of demand and supply,” he explained. “There was an intervention to cause the strengthening and the rate of appreciation was too aggressive to enable planning for businesses and for the entire economy to adjust.”

Caution Against Volatility

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

Prof. Bokpin warned that the volatility experienced during the period of aggressive appreciation made it difficult for market players to make informed decisions, arguing that stability—rather than wild swings in either direction—should be the focus of monetary policy.

“You could not describe that as stability. That was more of a disruption,” he said. “Whether appreciation or depreciation, neither is good for businesses nor for even the central bank in the first place.”

He emphasized that both extreme depreciation and rapid appreciation have damaging effects on business confidence and macroeconomic planning, noting that market clarity and predictability are more important for sustainable economic growth.

Prof. Bokpin further suggested that better communication from the BoG could have eased the economic uncertainties created by the sudden shift in the exchange rate trajectory.

He revealed that economists had anticipated a medium-term exchange rate range of “10 plus or minus one” for some time and that clarity on policy direction was long overdue.

“It’s good that there’s some level of clarity now and beyond the aggressive strengthening, we need to stabilize,” he noted.

His comments come at a time when Ghana’s central bank is implementing a series of interventions including tightening monetary policy and addressing forex leakages as part of efforts to stabilize the local currency.

Tags: Aggressive Cedi StrengtheningAggressive Cedi Strengthening Was a DisruptionDisruptionNot Stability – Prof. Godfred Bokpin AssertsProf. Godfred Bokpin

Comments 2

  1. Nana Yaw says:
    2 months ago

    ah are you serious? so would you have say same thing if the cedi had depreciated?

    Reply
  2. Kwame says:
    2 months ago

    At some point I will agree with him.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.