Cedi appreciation not accidental, stems from a robust policy framework — Finance Minister

Finance Minister Dr. Cassiel Ato Forson has attributed the recent strong performance of the Ghana cedi to a deliberate and well-coordinated policy framework, dismissing suggestions that the currency’s appreciation is accidental.

The cedi has maintained its appreciation against the US dollar, trading at a buying rate of GHS12.17 and a selling rate of GHS12.94 as of Monday, May 19, 2025, according to Cedirates.com.

According to the Minister, the stability of the cedi, which has appreciated by 16.7% against the US dollar as of May 13, 2025, is the result of synchronized monetary and fiscal measures supported by favourable global conditions.

“This rally stems from a robust policy framework, underpinned by synchronized monetary and fiscal measures, as well as a favorable global context,” Dr. Forson noted.

He explained that the Ghana Gold Board (GoldBod), through its gold reserve accumulation efforts, has played a significant role in this achievement.

“I am pleased to observe that the GoldBod has already begun to fulfill its object and has contributed immensely to the recent stability of the Ghana cedi through gold reserve accumulation,” he said.

According to him, the 2025 performance of the cedi stands in contrast to the same period in 2024, when the currency had depreciated by 13.4%.

He added that the cedi is now being recognised as the best-performing currency globally in April 2025.

The Minister made these remarks during the inauguration of a 13-member board of directors for the Ghana Gold Board, tasked with improving transparency in the gold trade and supporting Ghana’s broader economic recovery.

Dr. Ato Forson expressed confidence that the board’s work will further enhance the strength of the cedi and transform how Ghana builds its foreign exchange reserves in the future.