BoG governor reassures stability of Cedi against foreign currencies
Dr. Ernest Addison
Dr. Ernest Addison, Governor of the Bank of Ghana, has reaffirmed the Central Bank's commitment to stabilizing the Ghana cedi against major foreign currencies, including the US dollar.
Read full articleHe emphasized that maintaining exchange rate stability is a top priority for the Central Bank.
Addressing attendees at a recent event, Dr. Addison underscored the importance of exchange rate stability for sustaining the downward trend of inflation. He assured stakeholders that efforts are underway to ensure the stability of the cedi moving forward.
Dr. Addison highlighted the Central Bank's proactive measures, mentioning that banks have received foreign exchange resources from the Central Bank to address the surge in demand for the dollar and other major currencies. Despite recent sharp depreciations, Dr. Addison expressed confidence in the Central Bank's vigilance in monitoring developments in the foreign exchange market.
Currently, the cedi is trading at approximately GH¢14.50 to one US dollar and GH¢18.00 to one British pound in the retail market.
