The Bank of Ghana (BoG) has assured businesses and commercial banks that it has enough dollar reserves to meet market demand despite renewed pressure on the cedi in recent weeks. The Central Bank said its Foreign Exchange Intermediation Programme would continue to be guided by “data and market developments” and not sentiment. The assurance follows […]
Cedi records one of its strongest performances; one dollar equals GH¢12.10 at forex bureaux. The Ghana cedi posted one of its strongest performances in recent months over the two-week review period. This was supported by improved market sentiment and steady central bank interventions. It appreciated to GH¢10.85 per US dollar (+9.68%), GH¢14.42 per pound (+10.00%), […]
The cedi has had one of its most dramatic years in recent memory. It opened 2025 at GH₵14.7 to the dollar. By February it had weakened slightly to GH₵15.50 and held there until April, making it one of the longest periods of stability in more than a decade. Then came the surprise. Between April and […]
Group Chief Executive of Ecobank, Jeremy Awori, says he supports calls for Bank of Ghana intervention to maintain a fairly stable cedi exchange rate, rather than the sharp daily appreciation seen in recent months. Speaking to Joy Business in Lomé, Togo, after the Annual General Meeting of Ecobank Transnational, Mr. Awori acknowledged the recent strong recovery […]
The Ghana cedi is forecasted to gain strength in the coming week, bolstered by continued remittance inflows and interventions from the central bank, while Kenya’s shilling is expected to remain steady, and Nigeria’s naira to stay range-bound, traders said. GHANA The cedi currency has jumped more than 40% versus the U.S. dollar this year, far outperforming its […]
Economist and Finance Professor at the University of Ghana, Professor Godfred Bokpin, has stated that the New Patriotic Party (NPP) laid the foundation, which has culminated in the increased strength and stability of the Ghanaian Cedi. According to him, the NPP’s policies such as the Gold-for-Reserves programme, significantly yielded huge benefits, translating into the current […]
Some major shopping outlets and supermarkets have started reducing prices of their products and items on sale due to the cedis’ appreciation against the U.S dollar. Joy Business can confirm. Household goods and furniture shop, Orca Deco Ghana on May 12, 2025 announced that it has dropped prices of some items by 15 percent. The company […]
An economics lecturer at the University of Ghana, Professor William Baah Boateng, has issued a direct challenge to Ghanaian importers and traders benefiting from the appreciating cedi. He says they must reflect the gains of the local currency in the prices of goods or risk exposing a double standard. Speaking on Joy News’ PM Express Business […]
An economist says the recent appreciation of the Ghana Cedi and reduction in fuel prices may not lead to a corresponding drop in the prices of goods due to the country’s manual approach to economic management. Dr Samuel Worlanyo Mensah said that until Ghana adopts an automated economic analysis and decision-making system, such changes in […]
The local currency has enjoyed a good run against its major trading partners in the first month of the year — appreciating against all the three major currencies, the dollar, euro and pound sterling, according to data released by the Bank of Ghana. The cedi, which depreciated against all the three currencies last year, has […]
A Lecturer at the School of Business and Law of the University for Development Studies, Dr. Muazu Ibrahim has described the management of the local currency, the Cedi, under President Nana Addo Dankwa Akufo-Addo and Vice President Mahamudu Bawumia as the best since 1992. In a write-up analyzing the management of the Cedi by various […]
The Minister of Finance, Ken Ofori-Atta, has stated that the cedi is performing better under the Nana Addo administration. He explained that the cedi recently suffered some turbulence despite the strong economic fundamentals and improvement in the country’s balance of payments, which the government achieved in the last two years. “It is also noteworthy that […]
