The Governor of the Bank of Ghana, Dr. Johnson Asiamah, has refuted claims that the Central Bank is deliberately manipulating the exchange rate to drive the recent appreciation of the Cedi.
The local currency has recorded significant gains in recent weeks, sparking speculation that the Central Bank may be employing artificial measures to influence its value.
Speaking at the Ghana CEO Summit held in Accra on Monday, May 26, 2025, Dr. Asiamah attributed the Cedi’s performance to sound macroeconomic fundamentals.
“Our Cedi has appreciated by 24.1% against the US dollar. Let me emphasise that the Central Bank is not using international reserves to prop up the Cedi, nor are we engineering an unsustainable appreciation,” he said.
According to Dr. Asiamah, the Cedi’s strength is underpinned by disciplined monetary policy, targeted foreign exchange reforms, improved remittance flows, and enhanced market surveillance.
“These are not short-term interventions—they are deliberate, structural changes aimed at ensuring long-term stability,” he added.
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