Cedi Remains one of the World’s Strongest Currencies, BoG Governor Says
Governor of the Bank of Ghana, Dr Johnson Asiama, has reaffirmed confidence in the Ghana cedi, describing it as one of the best-performing currencies globally despite recent seasonal pressures and weaker remittance inflows.
Speaking at the opening of the 126th Monetary Policy Committee (MPC) meeting on Monday, September 15, 2025, Dr Asiama acknowledged that remittances — a critical source of foreign exchange for many households — have slowed compared to previous periods, while seasonal trade-related demand has added pressure to the market.
He, however, stressed that the challenges were temporary and not indicative of underlying weakness in the currency.
“Despite the seasonal pressures and a slowdown in remittance inflows in recent weeks, the cedi remains one of the strongest currencies globally. Year-to-date, it has appreciated by about 21% as of September 12,” Dr Asiama stated.
He noted that the cedi’s performance now ranks alongside currencies such as the Russian ruble, Swedish krona, Norwegian krone, Swiss franc, euro, and the British pound.
The Governor attributed the currency’s resilience to sound monetary policy, stronger foreign exchange reserves, and tightened regulatory oversight. “Efforts by the Bank to enforce foreign-exchange rules, along with prudent macroeconomic management, are helping to sustain investor confidence,” he said.
Analysts argue that the cedi’s appreciation has delivered tangible benefits, including lower costs of imported goods, easing inflationary pressures, and reduced operational costs for businesses reliant on foreign inputs. However, they caution that sustaining the currency’s trajectory will require robust export earnings, consistent remittance flows, and reduced dependence on volatile commodity prices.
Dr Asiama urged Ghanaians, businesses, and policymakers to maintain confidence in the cedi, underscoring the role of public sentiment in reinforcing currency stability. He added that the central bank remained vigilant and ready to intervene when necessary to safeguard stability.
