Finance Minister Dr. Cassiel Ato Forson has announced that the Ghanaian Cedi has remained stable against the US dollar since February 19, 2025, on the interbank forex market.
Addressing Parliament yesterday, Dr. Forson stated that as of March 14, 2025, the exchange rate stood at GH₵15.53 to a dollar, reflecting a depreciation of 5.3%.
This, he noted, was an improvement compared to the 5.7% depreciation recorded last year.
Govt’s measures to stabilize the Cedi
Dr. Forson was responding to a question posed by Madam Mavis Nkansah Boadu, MP for Afigya Sekyere East, regarding measures the government was implementing to curb the depreciation of the Cedi against major foreign currencies.
He explained that the Bank of Ghana had enforced strict liquidity measures to maintain stability in the interbank forex market. Additionally, the government was undertaking strategic policies to bolster the resilience of the national currency.
Policy interventions to strengthen the Cedi
Among the key interventions mentioned by the Finance Minister was the establishment of a Gold Board, which aims to enhance foreign currency reserves by leveraging the country’s gold resources.
Furthermore, the government is actively enhancing forex liquidity while frontloading expenditure-cutting measures to maintain fiscal discipline.
Dr. Forson also emphasized that in the coming months, the government’s “24-hour economy” initiative would introduce further policies such as an import substitution strategy to reduce reliance on foreign goods and ensure long-term currency stability.
With these measures in place, the government remains optimistic about sustaining the stability of the Cedi amid global economic uncertainties.
