By: Alexander Afriyie
Accra, May 28, 2025 – In a statement released today, Dr. Johnson Asiamah, Governor of the Bank of Ghana (BoG), has cautioned individuals against holding onto dollars in anticipation of a return to old patterns of depreciation. Dr. Asiamah emphasized that the market, narrative, and policy environment have undergone significant changes.
Addressing those who continue to hold dollars, Dr. Asiamah stated, “To those still holding dollars in anticipation of a return to old patterns of depreciation, I will say this plainly: The market has changed. The narrative has changed. And the policy environment has changed.”
The BoG Governor’s statement comes amid the ongoing appreciation of the Ghanaian cedi. The cedi has been gaining value against major currencies, including the US dollar, in recent months.
Dr. Asiamah’s warning is seen as a call to action for individuals and businesses to adapt to the new economic reality and avoid speculative behavior. The BoG remains committed to maintaining a stable and competitive exchange rate, and Dr. Asiamah’s statement is expected to reassure investors and boost confidence in the local currency. Alexander Afriyie