Second Deputy Governor of the Bank of Ghana (BoG), Mrs Matilda Asante-Asiedu, has urged all market participants, including banks, importers, exporters, and investors, to transact based on genuine need instead of speculation.
That is how we keep the cedi stable, together, she said.
Mrs Asante-Asiedu explained that the buffers will help the economy absorb shocks and have already proven effective through the recent global pressures.
“Our reserves have held strong, and the cedi has remained largely resilient. But a stable currency is not only built on reserves. Proper market conduct is just as important.
“We saw this clearly last year. Those who bet against the cedi and hoarded foreign currency ended up on the wrong side of the trade,” She said on 2 June 2026, when she delivered a keynote address at The Money Summit 2026 in Accra.
Shs stressed “The fundamentals of this economy do not reward speculation against our currency. Therefore, I urge every actor, banks, importers, exporters, and investors – to transact on genuine need, not fear. That is how we keep the cedi stable, together. ”
Shwe also said that the Bank of Ghana has and will continue to work to safeguard price stability.
“We remain vigilant to inflationary threats, and we will deploy every tool available in our toolkit to address inflation whenever it threatens macroeconomic stability. The benefit of this is direct and practical: low inflation locks in low interest rates, and low interest rates allow businesses to borrow at a lower cost – to invest, to expand, and to keep their operations running.”
Price stability, in other words, is not an end in itself; it is what makes affordable credit and business continuity possible, she said.
“We will continue to accumulate reserves toward a durable floor of six months of import cover and press ahead with the Ghana Gold Reserve Accumulation Programme, GANRAP, toward the mediumterm target of fifteen months of import cover. These buffers will help the economy absorb shocks without panic – and they have served us well so far: through the recent oil-market and geopolitical turbulence, our reserves have held, and the cedi has stayed largely resilient.
“But a stable currency is built as much by behaviour as it is by buffers, and here I speak directly to the market. We saw the lesson plainly last year: those who bet against the cedi and hoarded foreign currency soon found themselves on the wrong side of the trade, unwinding at a loss as the currency staged one of the world’s strongest recoveries through 2025.”
Source:3news.com