The Bank of Ghana (BoG) is taking bold steps to strengthen Ghana’s external position with the introduction of a new foreign exchange intermediation initiative under the Domestic Gold Purchase Programme, expected to commence next month.
Governor Johnson Asiamah announced the move at a post-Monetary Policy Committee (MPC) engagement in Accra on Tuesday, disclosing that the central bank plans to sell up to US$1.15 billion through twice-weekly auctions to all licensed banks.
According to him, the measure forms part of the Bank’s broader efforts to deepen the foreign exchange market, improve liquidity, and ensure long-term stability in the value of the cedi.
“We are committed to ensuring that our external position remains robust and that the gains made in stabilizing the cedi are sustained,” the Governor stated.
Ghana’s external sector performance has shown remarkable improvement in recent months. The country recorded a trade surplus of US$6.2 billion in the first eight months of 2025, while gross international reserves rose to US$10.7 billion, representing 4.5 months of import cover.
The cedi has also appreciated by 21 percent year-to-date, ranking among the best-performing currencies globally. The Governor attributed this progress to consistent monetary policy, prudent fiscal management, and strong performance in key export commodities.
Meanwhile, the BoG’s decision to lower the policy rate by 350 basis points to 21.5 percent the third cut this year, signals growing confidence in Ghana’s macroeconomic outlook. The policy easing is expected to further support private sector activity, while maintaining the ongoing disinflation momentum.
The central bank’s focus, Mr. Asiamah noted, is to ensure that monetary and exchange rate stability translates into real growth for households and businesses.
He further called on commercial banks to collaborate closely with the BoG to sustain the gains achieved so far, channel more credit to productive sectors, and support export-led growth.
“Our collective responsibility now is to sustain discipline, strengthen the financial system, and ensure that stability translates into jobs, affordable credit, and real growth,” the Governor emphasized.
