Finance Minister Dr. Cassiel Ato Forson reported that the Ghanaian Cedi has remained stable against the US dollar since February 19, 2025, with an exchange rate of GH¢15.53 to one dollar as of March 14, reflecting a 5.3% depreciation. He outlined government measures to combat currency depreciation, including enhanced liquidity and the introduction of a Gold Board.
Finance Minister Dr. Cassiel Ato Forson has announced that the Ghanaian Cedi has maintained stability against the US dollar since February 19, 2025, in the interbank forex market. As of March 14, 2025, the exchange rate was GH¢15.53 per dollar, demonstrating a depreciation of 5.3 percent, which is an improvement compared to the 5.7 percent depreciation recorded the previous year.
During a parliamentary session, Dr. Ato Forson addressed a query from Madam Mavis Nkansah Boadu, the Member of Parliament for Afigya Sekyere East, regarding the government’s strategies to mitigate the Cedi’s depreciation against other currencies. He highlighted that the Central Bank has implemented strict liquidity measures to support the Cedi’s stability within the interbank forex market.
The Minister elaborated on several government initiatives aimed at reinforcing the Ghanaian currency. These include the establishment of a Gold Board, efforts to increase foreign currency availability on the forex market, and proactive measures to curtail government expenditures. Furthermore, Dr. Forson stated that the government plans to launch its “24-hour economy,” incorporating import substitution policies to bolster the resilience of the Cedi in the coming months.
In summary, the Ghanaian Cedi has demonstrated relative stability against the US dollar since February 2025, with improved depreciation rates. The government’s proactive measures, including tight liquidity management and the launch of new economic policies, aim to sustain the Cedi’s resilience. These initiatives are crucial in addressing the currency’s performance against other trading currencies in the forex market.
Original Source: www.ghanaweb.com
