Dr Johnson Asiamah, the Governor of the Bank of Ghana has revealed that the Ghana cedis have appreciated by 24.1%.
The BoG boss has also brushed off claims that the Central Bank is deliberately manipulating the exchange rate to drive the recent appreciation of the Cedi.
He further revealed that the recent cedi appreciation is not backed by the Central Banks international reserves but through disciplined monetary policy, improved remittance flows, and enhanced market surveillance.
On Monday, May 26, 2025, speaking at the Ghana CEO Summit held in Accra Dr. Asiamah detailed, “Our Cedi has appreciated by 24.1% against the US dollar. Let me emphasise that the Central Bank is not using international reserves to support the Cedi, nor are we engineering an appreciation, of the Cedi that will not be sustainable,
It is all market-driven, and the strengthening of the currency reflects a blend of disciplined monetary policy tailored to forex auction reforms, enhanced remittance channels and stricter market surveilling.
These are not short-term interventions—they are deliberate, structural changes aimed at ensuring long-term stability,” he added.
Meanwhile, Richard Ahiagbah, the Director of Communications for the New Patriotic Party (NPP) has boldly claimed the recent cedi appreciation is bad for John Mahama’s flagship programme the 24-hour economy.
He argued that a weak cedi would be better for John Mahama’s flagship program the 24-hour economy.
According to Richard Ahiagbah, the whole celebration of the exchange rate and the cedi strengthening is actually toward an import-dependent economy.
He claimed that Ghana does not need the strengthening cedi but sustainable employment for our people through a production-led 24-hour economy.
Richard Ahiagbah further claimed that a weak cedi would be better for John Mahama’s flagship program the 24-hour economy.
The NPP communicator emphasised that a weak currency is better for the country so that we can drive exports through a production-led 24-hour economy.
Watch the video below:
The cedi has appreciated by 24%+ – Bank of Ghana Governor Dr Asiama#AbanPapaAba pic.twitter.com/vM8ttSUmhy
— KOJO DYNAMIC 𓃵 (@AnnanPerry) May 26, 2025
