Remittances, gold prog. anchor cedi against dollar – BoG
Business
BoG Governor Dr Asiama says the rate of depreciation of the cedi is slower relative to the same period last year
The foreign exchange market continues to witness stability in recent months, Bank of Ghana Governor Johnson Asiama has said.
Briefing the media on Friday, 28 March 2025, following the 123rd regular meeting of the Monetary Policy Committee (MPC) held in the week to assess recent economic developments and risks to the inflation outlook, Dr Asiama said the feat was aided by improved liquidity from remittance inflows and the Domestic Gold Purchase Programme.
The stability in the FX market, he noted, “is expected to remain, reflecting stronger reserve buffers and positive market sentiments.”
He said as of 26 March 2025, the Ghana cedi depreciated at a slower pace of 5.3 per cent against the US dollar, compared to 7.6 per cent in the same period of last year.
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