Ghanaian Cedi to Stabilize Between GH₵10 and GH₵12, President Mahama Assures

Ghanaian Cedi to Stabilize: President Mahama Assures Exporters Accra, Ghana – June 3, 2025 – In a live address to the nation's exporters, President John Dramani Mahama offered assurances regarding the stability of the Ghanaian cedi against the US dollar. He stated that the cedi is expected to stabilize within a range of GH₵10 to GH₵12 per dollar. This announcement comes amid ongoing efforts by the government to address macroeconomic challenges. President Mahama highlighted the government's focus on macroeconomic stability and investor confidence as key factors in achieving this goal. He explained that various measures have been implemented to reduce the budget deficit and foster a more predictable economic environment for investment. "In managing the economy, together with the Minister of Finance and the Governor of the Bank, you can count on us to make sure that we manage the economy properly," President Mahama stated, underscoring the government's commitment to supporting businesses. The President also addressed concerns about the impact of currency fluctuations on import and export businesses, emphasizing the need for a balanced approach to maintain a fair value for the cedi. He pointed to the recent success of the forex auction in bringing the exchange rate to just above 10 cedis per dollar as a sign of progress. The speech conveys a message of hope and stability to Ghanaian businesses, particularly exporters who are directly affected by currency fluctuations. The government’s commitment to economic management and the positive trend in the exchange rate offer a sense of optimism for the future of the Ghanaian economy.