BoG Governor: Cedi’s appreciation not artificially influenced

Dr. Johnson Asiama, the Governor of the Bank of Ghana, has rejected claims that the Central Bank is manipulating the exchange rate.

These claims arose after the Cedi's recent strong performance against major foreign currencies.

Speaking at the Ghana CEO Summit in Accra on May 26, 2025, Dr. Asiama denied any artificial intervention by the Bank of Ghana.

He explained that the Cedi's strength comes from broader economic improvements, not external support or short-term tactics.

“Our Cedi has appreciated by 24.1% against the US dollar,” he stated.

He emphasized that the Central Bank is not using international reserves to boost the Cedi. He also noted they are not engineering an unsustainable appreciation.

Dr. Asiama attributed this positive trend to disciplined monetary policy and foreign exchange reforms.

Increased inflows have also played a role in this improvement.

“These are not short-term interventions,” he said. “They are deliberate changes for long-term stability.”

He highlighted enhanced market surveillance and improved remittance flows as factors contributing to currency strength.

Dr. Asiama assured businesses that the central bank is committed to transparency and credibility in its operations.