The cedi has appreciated by 24.1% – BoG Governor

Dr. Johnson Asiamah, the Governor of the Bank of Ghana, announced that the Ghana cedi has appreciated by 24.1%.

He dismissed claims that the Central Bank is manipulating the exchange rate. According to him, this appreciation is not supported by international reserves. Instead, it results from disciplined monetary policy and improved remittance flows.

Asiamah spoke at the Ghana CEO Summit in Accra on May 26, 2025. He emphasized that the Cedi's strength reflects market-driven factors. These include forex auction reforms and stricter market surveillance.

He stated these changes are structural and aim for long-term stability.

Richard Ahiagbah, Director of Communications for the New Patriotic Party (NPP), disagrees with this view. He claimed that a weak cedi would benefit John Mahama’s 24-hour economy program.

Ahiagbah argued that celebrating a strong cedi only supports an import-dependent economy. He believes Ghana needs sustainable employment through a production-led economy instead.

He reiterated that a weaker currency would better support exports and economic growth.

Watch the video below:

The cedi has appreciated by over 24% – Bank of Ghana Governor Dr. Asiamah #AbanPapaAba pic.twitter.com/vM8ttSUmhy
— KOJO DYNAMIC ???? (@AnnanPerry) May 26, 2025