Bank of Ghana Governor Johnson Asiama advised people to stop saving dollars and wait for the cedi to regain its value. He spoke on Wednesday at an African Development Bank meeting about Ghana's currency changes. Asiama warned that people who hold American money in the hope of better exchange rates will face disappointment. The central bank leader believes the cedi will not revert to its old pattern of weakening against foreign currencies. He says that government reforms and improved financial management have contributed to the recent currency improvements.
The cedi gained 21.5 percent of its value this year compared to losing 19.2 percent last year. Asiama credits strong gold exports and better foreign exchange policies for the currency's success. Ghana earns more money from gold sales because global prices have reached over 3,200 dollars per ounce. The Gold-for-Reserve program enables the central bank to accumulate foreign currency reserves without purchasing dollars on the open market. These changes reduce pressure on the local currency and support its strength.
Ghana earned a 2.12 billion dollar surplus from trade during the first three months of 2025. The country holds 10.67 billion dollars in international reserves to support the economy. Money sent home by Ghanaians living abroad remains steady despite potential new taxes from the United States. Asiama believes the cedi has entered a new period of stable value that will continue. The governor thinks domestic policies will protect Ghana even if global economic conditions change.
The cedi gained 21.5 percent of its value this year compared to losing 19.2 percent last year. Asiama credits strong gold exports and better foreign exchange policies for the currency's success. Ghana earns more money from gold sales because global prices have reached over 3,200 dollars per ounce. The Gold-for-Reserve program enables the central bank to accumulate foreign currency reserves without purchasing dollars on the open market. These changes reduce pressure on the local currency and support its strength.
Ghana earned a 2.12 billion dollar surplus from trade during the first three months of 2025. The country holds 10.67 billion dollars in international reserves to support the economy. Money sent home by Ghanaians living abroad remains steady despite potential new taxes from the United States. Asiama believes the cedi has entered a new period of stable value that will continue. The governor thinks domestic policies will protect Ghana even if global economic conditions change.
