The Ghana cedi gained 24.1% against the US dollar in the first five months of 2025.
This is compared with a loss of 5.3% in the first quarter of 2025.
This was disclosed by the Governor of Bank of Ghana, Dr. Johnson Pandit Asiamah last Friday at a Monitory Policy Committee(MPC) Press conference.
According to the Governor, the local currency traded at a rate of GH¢11.85 in May 2025 to the American greenback in the interbank market adding that in April 2025, the local currency gained 3.9% in value to the American greenback.
“Similarly, the cedi appreciated by 14.1% against the euro in the interbank market in May 2025, going for GH¢13.33.
For the pound, the cedi also gained 16.2% in value. It consequently sold at GH¢15.74 the interbank market.
It also appreciated 3.5% against the pound and 3.7% against the euro respectively.
This follows an injection of a total of US$425.50 million by the Bank of Ghana into the retail market”, the Governor emphasized.
MPC of BoG Maintains Policy Rate at 28%
Dr.Asiamah explained that the committee took the decision in anticipation of inflation coming down soon. Inflation currently stands at 21.2 percent.
He disclosed that latest forecast points to continued easing of inflationary pressures on the back of tight monetary policy stance, exchange rate stability, and fiscal consolidation.
He pointed out that inflation is expected to ease faster towards the medium-term target in the first quarter of next year, that is 2026, as opposed to the second quarter as earlier envisaged, barring unanticipated shocks.
Despite these positive developments, the committee observed that the current level of inflation remains high relative to the medium-term target and will require maintaining the policy rate at 28.0%”, he said.
source:www.senaradioonline.com/The EXPOSÉ
