The Ghanaian Cedi has remained stable against the US dollar since February 19, 2025, with a current exchange rate of GH¢15.53 per dollar. Finance Minister Dr. Cassiel Ato Forson reported a 5.3 percent depreciation compared to last year’s 5.7 percent. Measures implemented by the government and Central Bank focus on enhancing currency stability and resilience in the forex market.
On February 19, 2025, Ghana’s Finance Minister, Dr. Cassiel Ato Forson, asserted that the Ghanaian Cedi has demonstrated stability against the US dollar in the interbank foreign exchange market. As of March 14, 2025, the exchange rate was GH¢15.53 to one dollar, experiencing a 5.3 percent depreciation, which is lower than the 5.7 percent recorded last year.
During a parliamentary session, Dr. Ato Forson responded to Madam Mavis Nkansah Boadu’s inquiry regarding the government’s strategies to mitigate the depreciation of the Cedi against other currencies. He indicated that the Central Bank has implemented strict liquidity measures that have contributed to the currency’s stability.
The Finance Minister also outlined various governmental initiatives aimed at bolstering the Cedi’s resilience. These include the establishment of a Gold Board, a focus on increasing foreign currency inflow in the forex market, and measures to curb government expenditures.
Furthermore, Dr. Ato Forson noted that upcoming policies under the Government’s “24-hour economy” would include an import substitution strategy designed to fortify the Cedi’s position in the forex market.
In summary, the Ghanaian Cedi has exhibited notable stability against the US dollar since February 19, 2025. The Finance Minister, Dr. Ato Forson, emphasizes the success of stringent liquidity measures and various government initiatives aimed at maintaining this stability. Furthermore, upcoming policies are expected to enhance the resilience of the Cedi, reflecting the government’s commitment to improving the nation’s economic conditions.
Original Source: www.ghanaweb.com
