The Governor of the Bank of Ghana, Dr. Johnson Asiama, has addressed concerns regarding the stability of the Ghanaian cedi, questioning the origins of the recent public unease.
During a press conference following the conclusion of the 126th Monetary Policy Committee (MPC) meeting on Wednesday, September 17, he stated that the central bank has implemented robust measures to maintain macroeconomic stability and possesses ample foreign exchange reserves to support the cedi, particularly as the nation approaches the final quarter of the year.
“There is no reason for concern. I am uncertain about the source of this anxiety. We have sufficient reserves to manage imports in the fourth quarter as the Christmas season draws near,” he remarked.
He further assured the public that the central bank maintains strong oversight of cash flow and that there is no reason for alarm regarding the currency’s performance.
“Our cash flow is optimal, and we have resolved all issues,” he added.
The swift appreciation of the cedi against the U.S. dollar has significantly decelerated, reducing by half from its mid-year peak due to market pressures affecting the currency.
As of September 2025, the cedi has appreciated by 21% year-to-date, in contrast to a 42.6% increase noted in June, according to data from the Bank of Ghana.
In September, the local currency was traded at GH¢12.15 per dollar on the interbank market, a decline from its peak earlier this year.
From June to September, the cedi experienced a nearly 20% depreciation, which has diminished some of its previous gains that had elevated it to the forefront of global currency rankings.
In September, the cedi appreciated by 6.9% against the Euro, settling at GH¢14.23. However, it saw an 11.8% increase against the British pound, trading at GH¢16.45.
Earlier in June, the currency had surged by 30.3% against the pound and 25.6% against the Euro.
