Ghanaian Cedi Shows Stability Against US Dollar, Finance Minister Reports
Finance Minister Dr. Cassiel Ato Forson indicated that the Ghanaian Cedi has remained stable against the US dollar since February 19, 2025. On March 14, 2025, the exchange rate was GH¢15.53 per dollar, reflecting a 5.3 percent depreciation. Key measures by the government aim to enhance the Cedi’s resilience.
Finance Minister Dr. Cassiel Ato Forson announced that the Ghanaian Cedi has maintained stability against the US dollar since February 19, 2025, within the interbank forex market. As of March 14, 2025, the rate stood at GH¢15.53 per dollar, reflecting a depreciation of 5.3 percent compared to a higher 5.7 percent last year.
During a session in Parliament, Dr. Ato Forson addressed a query from Madam Mavis Nkansah Boadu, the Member of Parliament for Afigya Sekyere East, regarding government measures aimed at curbing significant depreciation of the Cedi against other currencies. He attributed the Cedi’s stability to stringent liquidity measures upheld by the Central Bank.
The Finance Minister outlined government initiatives to reinforce the Cedi’s resilience, including the formation of a Gold Board, increasing foreign currency availability in the forex market, and implementing strategies to curtail government expenditures. He emphasized that in the forthcoming months, the government would introduce a “24-hour economy” and an import substitution policy to further bolster the Cedi’s position in the forex market.
In summary, the Ghanaian Cedi has demonstrated stability against the US dollar since February 2025, supported by the Central Bank’s stringent liquidity measures. The government’s proactive strategies, including the establishment of the Gold Board and plans for a “24-hour economy,” aim to bolster the currency’s resilience against depreciation. Continued efforts will be essential to maintain this stability moving forward.
Original Source: www.ghanaweb.com
