Finance Minister, Dr. Cassiel Ato Forson, has assured Ghanaians that the government will work to ensure the local tender doesn't lose value against other currencies.

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Speaking during the debate on the Energy Sector Levy Amendment Bill, 2025, in Parliament on Wednesday, June 4, Ato Forson mentioned that the Mahama-led administration has outlined strategies to support the cedi from depreciating.

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“I want to assure the people of Ghana that the currency will remain stable. The Ghana cedi will remain strong. The Ghana cedi is doing well, and this trajectory will continue. Mr Speaker, I want to assure members of this House that the NDC will find ways to stabilise the cedi.

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“For the first month of operation of the Ghana Gold Board, for the month of May, they were able to buy 11.4 tonnes of gold, which brought $1.2 billion that has gone to the central bank. And the central bank will use this to build enough reserves to intervene for the strong currency.

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"We mean well; prices have fallen, inflation is coming down, we can see prices of goods coming down daily, this will continue, and so, you should be happy. I stand by my promise to deliver low prices, stable cedi, and good jobs for the people of Ghana,” he added.

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Ghana ended 2024 with an inflation rate of 23.8%. The rate slightly declined to 23.5% in January 2025 and has continued on a downward trend since.

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In February, inflation dropped to 23.1%; in March, it decreased further to 22.4%, and in April it declined again to 21.2%.

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This improvement is partly attributed to the cedi’s appreciation — approximately 16% against the US dollar — which helped push inflation down to 21.2% by May 2025.

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This marks a significant recovery, considering that Ghana’s inflation rate had peaked at 31.26% in 2022 due to economic disruptions and cedi depreciation.

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From April 14 to June 2 this year, the interbank interest rate remained relatively stable, moving slightly from 27.01% to 27.02%.

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The Bank of Ghana (BoG) has stated that no bank currently offers loans to individuals at interest rates below 20%. According to BoG data, the cedi appreciated by 19% in April and May alone.

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In a statement at the Bank’s 124th Monetary Policy Committee meeting on May 21, BoG Governor Dr. Johnson Asiamah said the central bank is committed to maintaining fiscal and monetary policies that support the cedi’s stability.

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Dr. Asiamah noted that the Bank will continue implementing reforms to monitor the forex market and prevent illegal practices that threaten the currency's strength.

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The cedi, he said, had gained “significant value — almost 19% — between April and May,” attributing the appreciation to “a combination of factors, including prudent monetary policy, improved market sentiment, and external sector gains.”

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Meanwhile, Forbes has reported an 8% depreciation of the US dollar in 2025, while gold prices have increased by 23%, as investors seek safe-haven assets — a trend that has also strengthened the Ghanaian cedi.

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The average interbank rates as of June 2 show the US dollar buying at GH₵10.24 and selling at GH₵10.25. The British pound is buying at GH₵13.88 and selling at GH₵13.89. The euro is currently being bought at GH₵11.71 and sold at GH₵11.72.

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