The Ghanaian cedi has been stable on the interbank foreign exchange market since February 19, 2025, according to Finance Minister Dr. Cassiel Ato Forson.
According to the Minister, the GH¢15.53 was worth 5.3% less on the foreign exchange market as of March 14, 2025, than it was the previous year, when it was worth 5.7% less.
When asked about the steps the government is taking to prevent the cedi’s sharp decline in value relative to other trading currencies on the foreign exchange market by Madam Mavis Nkansah Boadu, the Member of Parliament for Afigya Sekyere East, the Finance Minister made this announcement on Tuesday on the floor of Parliament.
Dr. Ato Forson stated that the Central Bank had kept strict liquidity controls in place, guaranteeing that the Cedi would stay steady on the interbank foreign exchange market.
The Finance Minister outlined several steps the government was doing to guarantee the stability of the Ghanaian currency, such as creating the Gold Board, boosting foreign exchange on the forex market, and accelerating efforts to cut government spending.
Dr. Ato Forson went on to say that in order to guarantee the cedi’s stability in the foreign exchange market, the government’s “24-hour economy” would implement policies such as import substitution in the coming months.
Source: newsthemegh.com