Ghanaian Cedi Remains Stable Against the US Dollar Since February 2025

The Finance Minister of Ghana, Dr. Cassiel Ato Forson, declared that the Cedi has stabilized against the US dollar since February 19, 2025, with a current exchange rate of GH¢15.53 per dollar. Measures by the Central Bank and government initiatives are aimed at ensuring the resilience of the Cedi in foreign exchange markets.

The Finance Minister of Ghana, Dr. Cassiel Ato Forson, announced that the Ghanaian Cedi has exhibited stability against the US dollar since February 19, 2025, in the interbank forex market. As of March 14, 2025, the exchange rate stood at GH¢15.53 to one dollar, reflecting a 5.3 percent depreciation, which is an improvement compared to the 5.7 percent depreciation experienced the previous year.

During a session in Parliament, Dr. Ato Forson addressed inquiries from Madam Mavis Nkansah Boadu, the Member of Parliament for Afigya Sekyere East, regarding government actions to curtail the Cedi’s depreciation against other currencies. He indicated that the Central Bank has implemented stringent liquidity measures to maintain the Cedi’s stability in the forex market.

The Finance Minister further elaborated on several strategies being executed by the government to bolster the resilience of the Ghanaian currency. These include the establishment of a Gold Board, increasing the availability of foreign currency in the forex market, and proactive measures to minimize government expenditures.

Additionally, Dr. Ato Forson mentioned that the government plans to introduce a “24-hour economy” in the upcoming months which will include an import substitution policy aimed at fortifying the Cedi against fluctuations in the forex market.

In summary, the Ghanaian Cedi has demonstrated notable stability against the US dollar since February 19, 2025. The government’s measures, including tight liquidity controls and initiatives such as the Gold Board and a forthcoming “24-hour economy,” aim to sustain this stability and enhance the currency’s resilience. These efforts reflect a commitment to mitigating the effects of currency depreciation in the forex market.

Original Source: www.ghanaweb.com