Dr. Johnson Asiamah, Governor of the Bank of Ghana, has dismissed rumors suggesting that the Central Bank is artificially boosting the Cedi’s value through exchange rate manipulation.
Recent weeks have seen the Cedi strengthen considerably, leading to speculation that the Bank of Ghana might be using deliberate tactics to influence its exchange rate.
Addressing the Ghana CEO Summit in Accra on May 26, 2025, Dr. Asiamah credited the currency’s rise to solid macroeconomic fundamentals rather than artificial interference.
“Our Cedi has appreciated by 24.1% against the US dollar. I want to stress that the Central Bank is not deploying international reserves to support the Cedi nor engineering an unsustainable rise,” he clarified.
He further explained that the Cedi’s growth is rooted in disciplined monetary policies, targeted reforms in foreign exchange, increased remittance inflows, and strengthened market monitoring.
“These measures are not quick fixes but well-planned structural reforms designed to secure lasting stability,” Dr. Asiamah concluded.
