The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has stated that the current depreciation of the Ghana cedi is temporary.

According to him, the pressure on the cedi is expected due to the mechanisms employed by the Central Bank in managing the currency.

Cedi crosses GH¢11 mark on the interbank market

He emphasised, however, that the situation will soon stabilise.

His comments follow the local currency’s marginal depreciation against major foreign trading currencies on the forex market.

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The governor explained that the current challenges are the result of a short-term “cash flow” problem, which will be corrected soon.

Speaking in an interview on Accra-based JoyNews, he said, "The Bank of Ghana operates a managed floating system in terms of framework; therefore, these blips will happen. But the assurance is that this is a short-term issue, and the challenges are being addressed."

Dr Asiama further noted that the recent surge in demand for foreign exchange has been driven by the cedi’s sharp appreciation, which made imports cheaper for businesses.

According to the Bank of Ghana’s daily update on August 28, 2025, the cedi was trading at GH¢11.06 to the dollar on the interbank market, compared to GH¢10.98 the previous day.

See the post by JoyNews below

Cedi’s current pressure is a short-term blip; things will normalise soon – BoG Governor assures.#JoyNews pic.twitter.com/LvUVBkHTbI

— JoyNews (@JoyNewsOnTV) August 27, 2025