Skip to main content

Remittance inflows slow-down not affecting cedi performance – BoG Governor

 


The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama has reassured the public that the Ghana cedi remains among the strongest performing currencies globally, even as the country contends with seasonal pressures and a slow-down in remittance inflows.

Speaking at the opening of the Monetary Policy Committee Meeting on September 15, 2025, Dr. Asiama acknowledged that remittances, a key source of foreign exchange for many households have not been as strong as in past periods.

He also pointed out that usual seasonal trade fluctuations are putting some pressure on foreign currency demand.

Nonetheless, he emphasized that these are temporary and manageable challenges, and not signs of systemic weakness.

Despite the seasonal pressures and a slowdown in remittance inflows in recent weeks, the cedi remains one of the strongest currencies globally. Year-to-date, it has appreciated by about 21% as of September 12", he said.

"The cedi is now performing alongside other high-ranking currencies such as the Russian ruble, Swedish krona, Norwegian krone, Swiss franc, euro, and the British pound”, he added.

The Governor cited a combination of sound monetary policy, improved foreign exchange reserves, and strengthened regulatory oversight as reasons why the cedi continue to hold its value.

Efforts by the Bank to enforce foreign-exchange rules, along with prudent macroeconomic management, are helping to sustain investor confidence", he said.

Analysts say the cedi’s resilience could be delivering real benefits, lower cost of imported goods, potential easing of inflation, and reduced pressure on businesses that rely on foreign inputs.

But they also warn that sustaining the trajectory will depend on continued export performance, stable remittance flows, and avoiding overreliance on volatile commodities.

Dr. Asiama urged Ghanaians, businesses, and policymakers to keep faith in the currency, as he believes public confidence plays a key role in maintaining and enhancing the cedi’s strength.

He also vowed that the central bank will remain vigilant, ready to intervene where needed to ensure stability.

Labels:

Comments

Post a Comment

Popular posts from this blog

NESCAFÉ Launches Real Vibes Text & Win Promo to Reward Coffee Consumers Across Ghana

 NESCAFÉ has launched the Real Vibes Text & Win Promo, an exciting consumer promotion designed to reward loyal coffee lovers and bring the brand’s My Coffee, My Vibe experience even closer to consumers across the country. Running from September to December, the promotion gives consumers the opportunity to enjoy their favourite NESCAFÉ coffee while standing a chance to win exciting prizes, including phones, motorcycles, airtime and the ultimate grand prize—an electric SUV. Speaking at the launch, Lily Ntim, Category Development Manager for NESCAFÉ, said the promotion reflects NESCAFÉ’s commitment to creating, rewarding and memorable experiences for consumers. “Today, we are excited to introduce the NESCAFÉ Real Vibes Text & Win Promo, a campaign designed to bring the My Coffee, My Vibe experience even closer to our consumers,” she said. She added that the campaign is not only about prizes, but also about celebrating the everyday moments consumers enjoy with their coffee. “T...
Post a Comment
Read more

UK-Ghana Trade & Investment Summit: Trade Resource Centre to help businesses maximise UK-Ghana trade opportunities

 In a significant boost to UK-Ghana trade and investment relations, the UK-Ghana Chamber of Commerce (UKGCC), in partnership with the UK-Ghana Jobs and Economic Transformation (JET) Programme, has launched the UK-Ghana Trade Resource Centre, a practical market-access platform designed to help businesses identify opportunities, navigate export requirements and build commercial partnerships between Ghana and the United Kingdom. The UK and Ghana enjoy strong trade relations, with total bilateral trade reaching approximately £1.6 billion in the year to Q1 2026. Yet, despite this progress, significant untapped opportunities remain for businesses in both countries. The Trade Resource Centre has been established to help bridge information gaps, connect businesses with the right partners, and support firms to take greater advantage of opportunities under the UK-Ghana Trade Partnership Agreement. The launch formed one of the major outcomes of the UK-Ghana Trade & Investment Summit 2026,...
Post a Comment
Read more

Ghana Home Loans

With interest rates declining, a more liquid environment and a macroeconomic stability, mortgage financing is expected to see an ease of credit. And Ghana Home Loans being a leader in this industry is expected to lead the way. Ghana Home Loans (GHL), a leader in home mortgage, continues to be the frontier in fulfilling dreams of many Ghanaians in homeownership. Since starting business in 2006, it has also provided many existing homeowners with Equity Release mortgages to support their businesses, pay educational fees, improve their properties, or simply pursue other personal hobbies and interests. Ghana Home Loans is a mortgage finance institution which operates under Bank of Ghana’s supervision as a non-bank financial institution. At present, the Company remains the only such institution that focuses exclusively on the provision of mortgage product. Through the Home Completion mortgage and Home Construction mortgage products, Ghana Home Loans has enabled many qualified applican...
16 comments
Read more