The Finance Minister, Dr. Mohammed Amin Adam, has highlighted that the Ghanaian cedi has shown robust stability against major trading currencies since January 2024, attributing this to the effective measures implemented by both the Bank of Ghana (BoG) and the Finance Ministry
He mentioned that the cedi experienced a depreciation of 8.3 percent during the initial three and a half months of the year, marking a significant improvement from the 21.5 percent depreciation recorded during the same period in 2023
“The cedi has also stabilised strongly against major currencies. In fact, year-to-date 2024, the cedi depreciated by just 8.3 percent. This compared with 21.5 percent same time in 2023.
He credited the minimal depreciation of the cedi to the effective monetary policies implemented by the BoG, bolstered international reserves in Ghana, and fiscal control measures enacted by the Finance Ministry.
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