The Bank of Ghana (BoG) has reassured the public that the Ghanaian cedi remains strong despite recent demand pressures and speculation of a potential dip in its value.
Governor Dr. Johnson Pundit Asiama, addressing market concerns, dismissed fears of instability and urged Ghanaians to remain confident in the currency’s resilience.
“There is no reason to be anxious about the cedi. We have figured everything out. We will do everything in our power to ensure there is stability in the currency. No need to go into a frenzy,” Dr. Asiama said.
After months of impressive gains between January and July 2025, the cedi came under pressure in early September. As of 12 September 2025, the currency had still appreciated 21.0% year-to-date against the US dollar, making it one of the strongest-performing currencies globally.
Dr. Asiama credited prudent monetary policy, effective liquidity management, fiscal consolidation, and strong foreign exchange inflows, including cocoa and gold export earnings for the currency’s resilience.
He stressed that the foreign exchange market remains adequately supplied, adding:
“There’s no single demand for dollars at the moment that has not been met.”
The Governor addressed concerns about possible fourth-quarter pressures as import demand increases, noting that buffers are in place to protect the currency.
Dr. Asiama also warned businesses and individuals against pricing goods or services in dollars, emphasizing that the cedi remains the only legal tender under the Foreign Exchange Act (Act 723) .
“Persons caught flouting provisions in the Act are likely to be prosecuted,” he cautioned.
The BoG projects headline inflation to drop within its medium-term target band of 8 ± 2% by year-end, supported by improved external balances, reserve accumulation, and stable commodity prices.
