BoG injected $264m into forex market in March 2025 to preserve cedi stability

The Bank of Ghana supported the foreign exchange market with S264.4 million in March 2025 to preserve the stability of the cedi.

This enabled the cedi to enjoy a calm market session in the month, with the local currency being virtually static at GH¢15.5 to a US dollar.

This occurred as ample foreign liquidity persisted on the local market.

Meanwhile, the Ghana Cedi will sustain its stability in the retail market in April 2025 despite starting the week on a weak note.

This is coming following the Bank of Ghana’s rate hike and liquidity curbing measures to tighten its grip on foreign exchange demand while the ongoing domestic gold buying programme remains a source of foreign exchange supply.

The Ghana cedi started this week on a weaker note after strengthening against the US dollar last week amid a weakening US dollar Index.

It depreciated slightly against the American greenback, going for GH¢16.00.

This culminated in a year-to-date depreciation of 2.36%.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Tags: