Parliament’s Trade, Industry and Tourism Committee is urging the Bank of Ghana (BoG) to enhance its oversight of foreign exchange inflows and monitor global trade trends more closely to maintain the cedi’s recent recovery.
Also Read
Between January and late May 2025, the cedi appreciated sharply, from GHS 15.00 to GHS 10.20 against the U.S. dollar. This improvement has been attributed to better performance in traditional exports and a rise in remittance inflows.
Speaking to Citi News on June 29, Committee Chairman Alexander Roosevelt stressed the importance of continued vigilance by the central bank.
“If you look at how the dollar is behaving now compared to the past, when people could easily access it, leading to the dollarization of our economy, that situation has changed. The cedi is gaining ground,” he said.
He further advised the BoG to keep a close eye on foreign currency movements and align its strategies with both global and local business dynamics to avoid renewed pressure on the cedi.
The Committee’s call reflects growing concerns over the long-term impact of currency instability on inflation, trade, and national economic planning.
