Accra, Ghana – President John Dramani Mahama has reaffirmed his administration’s position on maintaining the cedi’s value between GH₵10 and GH₵12 per US dollar, calling it a realistic and strategic range to support Ghana’s ongoing economic recovery.
Speaking at a press briefing in Accra on June 3, 2025, President Mahama dismissed suggestions that the cedi should return to its historic level of GH₵4 to the dollar, saying such expectations do not reflect Ghana’s current economic fundamentals.
He explained that the current exchange rate range offers a balanced position—keeping Ghana’s exports competitive while helping to stabilise the broader economy.
The cedi has been on a recovery path in recent months, appreciating steadily against major international currencies. The stronger currency has contributed to easing import costs, lower transportation expenses, and reduced fuel prices.
“This is an opportunity for our exporters to benefit from the cedi’s appreciation. Raw material costs have decreased, transportation expenses have gone down, and fuel prices have dropped. These factors create clear incentives for export growth,” President Mahama stated.
He, however, cautioned importers not to take advantage of the stronger currency to increase the inflow of foreign products that could crowd out local industry.
“Let’s not exploit this situation by flooding our markets with products like Nkaties and similar imports. Instead, let’s focus on substituting imports. We should prioritize producing as many goods as possible right here in Ghana,” he concluded.
As Ghana’s economic indicators continue to improve, the presidency’s focus appears to be on currency stability, export competitiveness, and domestic industrial expansion—key themes shaping fiscal policy heading into the second half of 2025.