The Governor of the Bank of Ghana, Dr Johnson Asiama, has noted that the current depreciation of the cedi is just an adjustment to the market and not a reversal of the gains.

According to him, the Central Bank is committed to protecting reserves, anchoring investor confidence, and sustaining a predictable exchange rate environment.

He said the cedi remains fundamentally supported by ongoing reforms and disciplined market activity.

Cedi weakens further, hits GH¢12.15 against the dollar

Speaking at an SME forum organised by the Ghana Association of Banks, he said: “The recent modest depreciation, some have wondered, reflects the market adjusting to reforms and seasonal trade patterns. It is not at all a reversal. We expect continued interbank activity and fiscal discipline to restore balance and reinforce long-term stability.”

The Ghana cedi has witnessed some depreciation in recent times, falling from GH¢10 to GH¢12.15 as of September 15, 2025.

This has raised a lot of speculations and generated conversations around the currency's performance and stability.

However, on August 27, 2025, the Central Bank issued some enforcement measures to regulate the forex market, including remittances and pricing in foreign currencies.

Dr Asiama noted these measures are not only geared towards protecting the cedi but also to create a stable atmosphere for businesses.

The BoG has barred banks from granting large corporates cash withdrawals in foreign currency unless firms have already lodged equivalent FX deposits.

“The purpose of these reforms is not simply to defend the cedi; it is to equip Ghanaian enterprises, especially SMEs, with a transparent, predictable FX environment that enables them to compete confidently in regional and global markets,” he said.



SSD/AE