Remittances, gold prog. anchor cedi against dollar – BoG

The foreign exchange market has been stable in recent months. This was stated by Bank of Ghana Governor Johnson Asiama.

He briefed the media on Friday, 28 March 2025. This followed the 123rd regular meeting of the Monetary Policy Committee (MPC). The meeting assessed recent economic developments and inflation risks.

Dr. Asiama noted that improved liquidity helped this stability. Remittance inflows and the Domestic Gold Purchase Programme contributed to this improvement.

He expects this stability to continue due to stronger reserve buffers. Positive market sentiments also support this outlook.

As of 26 March 2025, the Ghana cedi depreciated at a slower pace. It fell by 5.3 percent against the US dollar. This is better than the 7.6 percent decline during the same period last year.