The Ghanaian Cedi has shown stability against the US dollar since February 19, 2025, with a current exchange of GH¢15.53 per dollar. Finance Minister Dr. Cassiel Ato Forson attributed this stability to tight Central Bank liquidity measures and various governmental strategies aimed at reducing currency depreciation, including the establishment of a Gold Board and upcoming economic policies.
Finance Minister Dr. Cassiel Ato Forson has announced that the Ghanaian Cedi has demonstrated stability against the US dollar since February 19, 2025, within the interbank forex market. According to reports as of March 14, 2025, the exchange rate was GH¢15.53 per dollar, indicating a depreciation of 5.3 percent, a significant improvement compared to the 5.7 percent depreciation recorded last year.
In a recent address in Parliament, Minister Forson responded to a query from Madam Mavis Nkansah Boadu, the Member of Parliament for Afigya Sekyere East, regarding governmental strategies to mitigate the Cedi’s depreciation against other currencies in the forex market. The Minister affirmed that the Central Bank has implemented stringent liquidity measures to maintain the Cedi’s stability.
Furthermore, Minister Forson elaborated on various strategies that the government is executing to bolster the currency’s resilience. These include the creation of the Gold Board, amplifying foreign currency availability in the market, as well as initiating proactive measures aimed at reducing government expenditures.
Looking ahead, Dr. Ato Forson indicated that the government plans to launch its “24-hour economy” initiative in the forthcoming months. This initiative will encompass an import substitution policy designed to further enhance the resilience of the Cedi within the forex market.
In summary, the Ghanaian Cedi has achieved notable stability against the US dollar, supported by government interventions and Central Bank policies. The strategic measures described by Finance Minister Dr. Ato Forson, such as the establishment of the Gold Board and the upcoming “24-hour economy,” are pivotal in reinforcing the currency against depreciation. Continued oversight and responsive policies will be critical for sustaining this stability moving forward.
Original Source: www.ghanaweb.com
