The Bank of Ghana has reduced the volume of foreign exchange it injected into the forex market in the second quarter of 2025.

This comes after the Central Bank pumped over $2 billion into the market in the first quarter, drawing cautions from the World Bank and the International Monetary Fund.

World Bank warns against BoG's 'excessive' intervention in foreign exchange market

Checks by GhanaWeb Business confirmed that as of July 29, 2025, total foreign exchange forward sales for the month stood at US$822.8 million. This represents a 53.6% decline compared to June 2025.

Cedi recovers marginally, now at GH¢10.90 to the dollar

Notably, there were no forex sales on July 25 and July 29, 2025, the first such absence since April.

IC Research, a leading financial and economic analysis firm, has welcomed the development, suggesting that the Central Bank should maintain a cautious approach.

“In view of the need to avert a protracted overvalued FX rate and close the arbitrage gap in the market, we expect the BoG to continue the gradual softening of its FX market presence,” myjoyonline.com quoted IC Research as saying.

Last week, the cedi depreciated slightly against the dollar to GH¢10.95, but it has since appreciated to GH¢10.90.

SSD/MA

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