During a parliamentary session on March 19, Finance Minister Dr Cassiel Ato Forson affirmed that the cedi has remained stable against the US dollar since February 19, 2025, on the interbank forex market. He detailed that as of March 14, the cedi traded at GH₵15.53 per dollar, marking a 5.3% depreciation—a better performance compared to last year’s 5.7%.

Dr Forson answered a question from MP Mavis Nkansah Boadu for Afigya Sekyere East. He credited the cedi’s stability to the Bank of Ghana’s tight liquidity policies, which have helped prevent further volatility on the forex market.

The Finance Minister outlined several key strategies to sustain the cedi’s strength. These include forming the Ghana Gold Board to boost foreign currency reserves, enhancing forex market interventions, and cutting expenditures to reduce currency pressure. He also introduced the upcoming “24-hour economy” initiative, which features an import substitution policy. This plan aims to lower Ghana’s dependence on foreign goods, strengthen the local economy, and support the cedi’s stability.

Dr Forson’s update reflects the government’s commitment to safeguarding the national currency through prudent fiscal and monetary measures. These policies are designed to create a stable economic environment amid broader challenges.