Cedi Dip is Temporary, Says BoG Governor
The Governor of the Bank of Ghana, Dr. Johnson Asiama, has reassured Ghanaians that the recent depreciation of the cedi is a temporary phenomenon. Speaking on Accra-based JoyNews, Dr. Asiama explained that the cedi’s pressure is expected due to the mechanisms employed by the Central Bank in managing the currency.
According to the Bank of Ghana’s latest data, the cedi depreciated by 4% against the US dollar in January 2026, trading at GH¢10.90 to the dollar on the interbank market. The governor attributed the depreciation to seasonal demand for foreign exchange, start-of-year adjustments, and sensitivity to global financial conditions.
Dr. Asiama emphasized that the Bank of Ghana operates a managed floating system, and such fluctuations are anticipated. “The assurance is that this is a short-term issue, and the challenges are being addressed,” he said. The central bank has introduced measures to stabilize the cedi, including the re-introduction of Treasury bills and requiring commercial banks to keep a mandatory 9% of their deposits at the Bank of Ghana in cedis.
The cedi’s performance in 2025 was notable, appreciating by over 30% against the dollar during the first eleven months. However, the recent depreciation has sparked concerns among investors and traders. The Bank of Ghana has assured that it will continue to monitor the situation and take necessary actions to ensure stability.
According to reports, the cedi’s depreciation is not unique to Ghana, as global economic conditions are influencing emerging markets. The Bank of Ghana’s proactive measures aim to mitigate these effects and maintain macroeconomic stability.
The cedi’s stability is crucial for Ghana’s economic growth, and the central bank’s reassurance is expected to boost investor confidence.
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Author: Korkor Anumu
