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September 18, 2026
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“Sometimes it’s deliberate to allow the cedi to depreciate a little” – Governor assures of control
Money
Policy
Opportunity
Growth
Key Points
- The Governor of the Bank of Ghana (BoG) assures businesses that the recent foreign exchange market movements are under control.
- The Ghanaian cedi has depreciated against the dollar, attributed to pressures from Christmas imports.
- Governor Asiama stated that the depreciation is part of a deliberate strategy to allow the system to adjust and keep the economy moving.
- He urged businesses not to be alarmed by the movements, despite the cedi reaching around 12 GHS/USD at some bureaus compared to the BoG's 11.59 GHS/USD.
- The Governor also called for increased transparency from the Central Securities Depository (CSD) to attract more investors to the capital market and ensure confidence for economic growth.
Why This Matters
The stability of the cedi directly impacts the cost of living, import prices, and business operational costs in Ghana, making the BoG's stance on its depreciation highly significant. The Governor's assertion of a 'deliberate strategy' for depreciation influences investor confidence and future economic planning. Furthermore, efforts to enhance capital market transparency are crucial for attracting both domestic and foreign investment, which are vital for Ghana's long-term economic growth and job creation.
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