• Contact US
  • Advertise With US
  • Privacy & Policy
  • Submit Station
Sunday, August 17, 2025
Kumasi Mail
Advertisement
  • Home
  • News
    • All
    • Education
    • Health
    • Manhyia
    NPP Ashanti regional Youth Organizer praises Mahama for youthful appointments and recognition of hard work

    Don’t Vote for NDC’s Lawyer Bediako, He Frustrated Ernest Kumi to His Death – NPP Chairman

    MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

    MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

    Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

    Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

    Reject all incumbent NPP executives seeking re-election-Butey to delegates

    NPP grants general amnesty to suspended members, reaffirms commitment to unity

    Kennedy Agyapong Urges National Unity to Procure Safe Presidential and Airforce Aircraft Following Tragic Helicopter Crash

    Kennedy Agyapong Urges National Unity to Procure Safe Presidential and Airforce Aircraft Following Tragic Helicopter Crash

    Abronye DC Alleges Former Ghana High Commissioner to India Hates Dr. Bawumia Over Exposed Corruption

    Abronye DC Alleges Former Ghana High Commissioner to India Hates Dr. Bawumia Over Exposed Corruption

    Ghanaians Didn’t Want Bawumia as NPP Flagbearer- H.E Asomah Cheremeh

    Ghanaians Didn’t Want Bawumia as NPP Flagbearer- H.E Asomah Cheremeh

    Justice Torkornoo files injunction against petitions seeking her removal

    Reinstate suspended CJ immediately, give her fair hearing – Commonwealth lawyers

    Gov’t imposes daily fine on DSTV over failure to submit pricing data

    Gov’t imposes daily fine on DSTV over failure to submit pricing data

    • Health
    • Education
  • Election 2024
  • Politics
  • Business
  • Showbiz
  • Opinion
  • Sports
  • World
  • Media
  • Manhyia
  • History
No Result
View All Result
  • Home
  • News
    • All
    • Education
    • Health
    • Manhyia
    NPP Ashanti regional Youth Organizer praises Mahama for youthful appointments and recognition of hard work

    Don’t Vote for NDC’s Lawyer Bediako, He Frustrated Ernest Kumi to His Death – NPP Chairman

    MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

    MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

    Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

    Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

    Reject all incumbent NPP executives seeking re-election-Butey to delegates

    NPP grants general amnesty to suspended members, reaffirms commitment to unity

    Kennedy Agyapong Urges National Unity to Procure Safe Presidential and Airforce Aircraft Following Tragic Helicopter Crash

    Kennedy Agyapong Urges National Unity to Procure Safe Presidential and Airforce Aircraft Following Tragic Helicopter Crash

    Abronye DC Alleges Former Ghana High Commissioner to India Hates Dr. Bawumia Over Exposed Corruption

    Abronye DC Alleges Former Ghana High Commissioner to India Hates Dr. Bawumia Over Exposed Corruption

    Ghanaians Didn’t Want Bawumia as NPP Flagbearer- H.E Asomah Cheremeh

    Ghanaians Didn’t Want Bawumia as NPP Flagbearer- H.E Asomah Cheremeh

    Justice Torkornoo files injunction against petitions seeking her removal

    Reinstate suspended CJ immediately, give her fair hearing – Commonwealth lawyers

    Gov’t imposes daily fine on DSTV over failure to submit pricing data

    Gov’t imposes daily fine on DSTV over failure to submit pricing data

    • Health
    • Education
  • Election 2024
  • Politics
  • Business
  • Showbiz
  • Opinion
  • Sports
  • World
  • Media
  • Manhyia
  • History
No Result
View All Result
Kumasi Mail
No Result
View All Result
  • Home
  • News
  • Election 2024
  • Politics
  • Business
  • Showbiz
  • Opinion
  • Sports
  • World
  • Media
  • Manhyia
  • History
Home Business

We’ve enough buffers; cedi will soon appreciate – BoG Governor

Kumasi Mail by Kumasi Mail
November 1, 2024
in Business
0
We’ve enough buffers; cedi will soon appreciate – BoG Governor
Share on FacebookShare on Twitter

The Bank of Ghana (BoG) is bolstering its reserves to curb the cedi’s depreciation against major foreign currencies as demand for forex is anticipated to rise with the upcoming festive season.

The Central Bank’s move aims to reassure businesses and consumers by steering the local currency towards greater stability in response to current pressures.

At present, the cedi is trading at nearly GHS 17 to a dollar on the forex market, reflecting a year-to-date depreciation of 24.3%.

However, Dr. Ernest Addison, Governor of the Bank of Ghana, emphasized that strengthening reserves is essential to mitigating fluctuations in the cedi’s value and safeguarding economic stability.

“Some are praying that the cedi will recover to GHS 10.00 to a dollar. These are the problems in our economy, the issues about the exchange rate and financial sector issues. But I think the good news is that we are making progress because the developments we are seeing are not different from other jurisdictions.

“So, we need to stay focused and implement the appropriate policies and build buffers to be able to support the progress we have made.”

This strategy, he explains, will not only strengthen the local but also foster investor confidence and broadly support economic stability.

“We have $7 billion dollars in foreign exchange reserves. If I want to drive the dollar-cedi rate at GHS 10, I can do that tomorrow. But what about the day after tomorrow? So, we are balancing various factors, trying to build reserves and managing the exchange rate. So, all is not lost yet, there is some silver lining in the cloud, hopefully we will see the appreciation of the currency”, Governor Addison added.

He was speaking at the launch of “The Concise Law of Banking”, authored by private legal practitioner Afua Appiah-Adu.

The Concise Law of Banking is a practical and concise guide to banking law commissioned by the Institute for Law & Development (ILAD).

It is suitable for students, banking practitioners, lawyers, various professionals and others who wish to understand the principles of banking law.

The book is comprehensive and covers topics that are fundamental to banking law. The topics that are covered in this book include: Introduction to Banking Law; Bank Regulation, Supervision and Licensing; The Banker-customer Relationship; Bank Accounts; Cheques; Recovery of Money Paid Mistakenly; Paying Bank & Collecting Bank; Electronic Payment Systems; Payment Cards; Offshore Banking; Credit Reporting; Borrowing and Lending in Banking; Documentary Credits and Money Laundering.

It is a highly useful manual on banking law.

Source: www.kumasimail.com

Tags: Bank of GhanaBoG Governortopstory
ShareTweetSend
Previous Post

Rickdel’s File: I would defy the Supreme Court orders if i were the Speaker of Parliament

Next Post

Gov’t committed to advancing TVET – Napo

YOU MAY LIKE

Alex Nartey Esq. Condemns rift between NIA-GRA, calls for swift presidential intervention
Business

Alex Nartey Esq. Condemns rift between NIA-GRA, calls for swift presidential intervention

Haruna Named Fintech CEO of the Year for Driving Innovation at Mobile Money LTD
Business

Haruna Named Fintech CEO of the Year for Driving Innovation at Mobile Money LTD

Strong Cedi Keeps Ghana Cocoa Prices Steady Despite Global Gains- COCOBOD CEO
Business

Strong Cedi Keeps Ghana Cocoa Prices Steady Despite Global Gains- COCOBOD CEO

Regulatory action against DStv set for August 7 – Sam George affirms
Business

Regulatory action against DStv set for August 7 – Sam George affirms

Cocoa handlers demand wage increase, plan strike over unfair pay
Business

Gov’t increases Cocoa producer price to $5,040 per tonne for 2025/2026 Season — Ato Forson Announces

Next Post
We’ll empower you with valuable skills, not promotion of 24-hour nightclubs – Napo

Gov’t committed to advancing TVET - Napo

Prof. Opoku-Agyemang urges Ashanti region to vote for change

Prof. Opoku-Agyemang urges Ashanti region to vote for change

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

LATEST NEWS

NPP Ashanti regional Youth Organizer praises Mahama for youthful appointments and recognition of hard work

Don’t Vote for NDC’s Lawyer Bediako, He Frustrated Ernest Kumi to His Death – NPP Chairman

MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

Ashanti NPP group alleges Kennedy Agyapong demanded GH¢5m From Dr. Bawumia to support 2024 campaign

Ashanti NPP group alleges Kennedy Agyapong demanded GH¢5m From Dr. Bawumia to support 2024 campaign

Reject all incumbent NPP executives seeking re-election-Butey to delegates

NPP grants general amnesty to suspended members, reaffirms commitment to unity

Kennedy Agyapong Urges National Unity to Procure Safe Presidential and Airforce Aircraft Following Tragic Helicopter Crash

Kennedy Agyapong Urges National Unity to Procure Safe Presidential and Airforce Aircraft Following Tragic Helicopter Crash

Abronye DC Alleges Former Ghana High Commissioner to India Hates Dr. Bawumia Over Exposed Corruption

Abronye DC Alleges Former Ghana High Commissioner to India Hates Dr. Bawumia Over Exposed Corruption

Ghanaians Didn’t Want Bawumia as NPP Flagbearer- H.E Asomah Cheremeh

Ghanaians Didn’t Want Bawumia as NPP Flagbearer- H.E Asomah Cheremeh

Justice Torkornoo files injunction against petitions seeking her removal

Reinstate suspended CJ immediately, give her fair hearing – Commonwealth lawyers

Gov’t imposes daily fine on DSTV over failure to submit pricing data

Gov’t imposes daily fine on DSTV over failure to submit pricing data

  • Trending
  • Comments
  • Latest
52-Year-old man arrested in Nsawam for possessing suspected EC Biometric Device

52-Year-old man arrested in Nsawam for possessing suspected EC Biometric Device

Ghana Airforce Z-9 Helicopter Goes Missing en Route to Obuasi, Rescue Efforts Underway

Ghana Airforce Z-9 Helicopter Goes Missing en Route to Obuasi, Rescue Efforts Underway

Asokore Mamponhene Nana Boakye Ansah passes away

Asokore Mamponhene Nana Boakye Ansah passes away

EPA CEO calls for Immediate action to restore polluted water bodies in Ashanti region

EPA CEO calls for Immediate action to restore polluted water bodies in Ashanti region

Hello world!

1
NCA promises lower data prices by year-end

NCA promises lower data prices by year-end

1
COVID-19: Information Ministry justifies GHC150K spent on staff

COVID-19: Information Ministry justifies GHC150K spent on staff

1
EC to conduct mop-up registration August 1-3

EC to conduct mop-up registration August 1-3

1
NPP Ashanti regional Youth Organizer praises Mahama for youthful appointments and recognition of hard work

Don’t Vote for NDC’s Lawyer Bediako, He Frustrated Ernest Kumi to His Death – NPP Chairman

MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

Ashanti NPP group alleges Kennedy Agyapong demanded GH¢5m From Dr. Bawumia to support 2024 campaign

Ashanti NPP group alleges Kennedy Agyapong demanded GH¢5m From Dr. Bawumia to support 2024 campaign

Facebook Twitter Youtube Instagram
Kumasi Mail

About US

Advertise With US

Submit Station

© 2024 KumasiMail.com