Dr Johnson Pandit Asiama is the BoG Governor

The Governor of the Bank of Ghana, Dr Pandit Asiama, has said the local currency has appreciated by over 42% from the beginning of the year to June 2025.

According to him, this was achieved through synchronised policy execution through fiscal discipline in the foreign exchange market.

The governor noted that the gains made have reversed almost all the losses made in the last 2 to 3 years.

The Ghana cedi gained steadily on the FX market this year, moving from GH¢17 to GH¢10.30 on the interbank market.

Speaking during the Graphic Business and Stanbic Bank Breakfast Meeting held in Accra on Tuesday, July 15, 2025, he said, "The Ghanaian Cedi has appreciated by over 42% year-to-date as of June 2025, reversing nearly all the losses incurred in 2022 and 2023."

The governor intimated that the BoG maintained a firm disinflation stance, raising and holding the monetary policy rate at 28%.

He noted that the bank conducted an active Open Market Operations (OMO) to absorb excess liquidity and enforce discipline in the foreign exchange market through structured FX auctions and forward guidance.

"These actions were not in isolation. They were reinforced by the Ministry of Finance’s commitment to fiscal consolidation, as captured in the 2025 Budget and aligned with the structural benchmarks of the IMF programme," he noted.

Contrary to reports of market intervention, the governor stated that "what we are witnessing is the power of synchronised policy execution where the central bank’s inflation-targeting mandate and the government’s expenditure rationalisation converge to restore credibility, stabilise expectations, and anchor the Cedi”.

SSD/AME

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