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Reports on Cedi Stability Against Major Currencies by the Finance Minister

The Ministry of Finance emphasized in a recent statement that the Ghanaian cedi has been consistently stable versus international currencies since 2023.

Cedi Stability Against Major Currencies, According to the Finance Minister

Cedi Stability Against Major Currencies, According to the Finance Minister

This encouraging news was announced by Finance Minister Dr. Mohammed Amin Adam on Tuesday, March 26, 2024, during the Ministry’s monthly briefing in Accra.

Dr. Adam gave energizing data that showed the Cedi’s performance had significantly improved.
He said that the Cedi only lost 9.1% of its value versus the US dollar between February and December of 2023, which is a significant improvement over the 29.8% loss that was seen during the same period in 2022.

The Minister of Finance stressed that this excellent cut demonstrated the extraordinary stability that was attained in the second half of 2023 and continued into 2024. Comparing the Cedi’s cumulative depreciation versus the US dollar as of March 20, 2024, it was only 6.8%, as opposed to the 22.1% reported over the same period in 2023.

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