BoG Governor assures Ghanaians of Cedi stability ahead of Christmas

Dr Johnson Asiama says the country is expected to enjoy a favourable exchange-rate environment during the festive season, amid concerns about increased demand for foreign currency.

Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has assured Ghanaians that the cedi is expected to remain relatively stable ahead of the Christmas festivities.

Speaking at the African Virtual Assets Summit (AVAS) 2026 on Monday, November 2, Dr Asiama expressed confidence in the local currency’s performance, despite concerns about exchange-rate movements and their potential impact on businesses, importers and consumers.

“What I can promise is a good Christmas as far as the exchange rate is concerned. We will have a good Christmas,” he said.

His comments are expected to reassure businesses and consumers who typically face increased foreign-exchange demand as traders stock up on goods ahead of the festive season.

Cedi trading against major currencies

The Governor’s assurance comes as the latest Bank of Ghana interbank reference rates show the cedi trading at GH¢11.6142 to the US dollar for buying and GH¢11.6258 for selling.

The pound sterling was quoted at GH¢15.5549 for buying and GH¢15.5704 for selling, while the euro traded at GH¢12.9559 for buying and GH¢12.9678 for selling.

The rates were published on Monday, November 2, based on average interbank market rates at the close of business on Friday, October 30.

Measures to support exchange-rate stability

The Bank of Ghana has previously indicated that foreign-exchange interventions and remittance inflows are expected to help moderate pressure on the cedi.

In its September Monetary Report, the central bank projected that the currency would remain relatively stable over the medium term, despite renewed demand for foreign currency to finance imports ahead of Christmas.

The Bank also identified foreign-exchange supply through its intermediation programme and support from the Ghana Gold Board as factors expected to ease market pressures.

Market outlook ahead of festivities

The latest assurance from Dr Asiama comes as households and businesses monitor the cedi’s performance amid preparations for the December season.

A relatively stable exchange rate would help reduce uncertainty for importers and businesses whose operations depend on foreign currency, although actual market conditions will depend on demand and the availability of foreign-exchange supply.

The Governor’s comments signal the central bank’s confidence in the outlook for the cedi as Ghana enters the final weeks of 2026.