Cedi has been stable against US dollar since February 19 – Finance Minister

Finance Minister Dr. Cassiel Ato Forson has assured Ghanaians that the Cedi has remained stable against the US dollar on the interbank forex market since February 19, 2025.

Speaking in Parliament on Tuesday, he stated that as of March 14, the Cedi was trading at GHS 15.53 per dollar, marking a 5.3% depreciation compared to 5.7% during the same period last year.

He attributed the relative stability of the currency to the Bank of Ghana’s tight liquidity measures and government interventions aimed at strengthening the economy.

He explained that the government has implemented several measures, including the establishment of the Gold Board to enhance foreign currency reserves, strengthening forex market regulations to improve liquidity, and frontloading expenditure reduction measures to control fiscal deficits.

Dr. Forson also highlighted the government’s upcoming "24-hour economy" initiative and import substitution policies as key strategies to reduce reliance on foreign goods and ensure the resilience of the Cedi. He expressed optimism that these interventions would bolster the currency and minimize future volatility in the forex market.