Finance Minister Dr. Cassiel Ato Forson has stated that the Ghana cedi has remained relatively stable against the US dollar since February 19, 2025, on the interbank foreign exchange market.
Addressing Parliament on March 19, Dr. Forson noted that as of March 14, 2025, the cedi was trading at GHS 15.53 to the dollar, reflecting a year-to-date depreciation of 5.3 per cent—an improvement compared to the 5.7 per cent depreciation recorded during the same period last year.
He made the statement in response to a question from Mavis Nkansah Boadu, Member of Parliament for Afigya Sekyere East, who enquired about steps the government was taking to curb the cedi’s depreciation against major trading currencies.
Dr. Forson attributed the recent relative stability to tight liquidity control measures implemented by the Bank of Ghana, which have helped maintain discipline on the interbank forex market.
The minister also outlined a series of government interventions aimed at strengthening the Cedi’s resilience.
These include the establishment of the Gold Board to boost forex reserves, improved access to foreign exchange on the market, and frontloaded efforts to reduce government expenditure.
Additionally, he highlighted that the upcoming implementation of the government’s “24-Hour Economy” initiative would include strategic policies such as import substitution—intended to reduce pressure on the local currency by minimizing reliance on imports.
Dr. Forson expressed confidence that these interventions would further stabilise the cedi and enhance overall macroeconomic stability in the coming months.