We’ve enough buffers; cedi will soon appreciate – BoG Governor

The Bank of Ghana (BoG) is building up its reserves to counter the depreciation of the cedi, especially as demand for foreign currency is expected to increase during the festive season.

Currently trading at nearly GHS 17 to a dollar, the cedi has seen a 24.3% depreciation year-to-date.

BoG Governor Dr. Ernest Addison stressed that reserve strengthening is critical for exchange rate stability, economic resilience, and investor confidence.

Speaking at the launch of The Concise Law of Banking by Afua Appiah-Adu, Addison highlighted ongoing efforts to balance reserves and support the currency’s value.