Bank of Ghana (BoG) board member Isaac Adongo has announced plans to intensify restrictions on over-the-counter US dollar withdrawals from financial institutions as part of efforts to curb cedi depreciation.
While existing regulations permit limited dollar withdrawals with justification, the central bank will soon enforce a near-blanket prohibition with minimal exceptions.
In an upcoming interview on PM Express with Evans Mensah, the Bolgatanga Central MP explained, "If you put your dollars in the bank account, it is okay.
We are happy with that; you can only get dollars if indeed you are going to use them for a dollar-denominated transaction," he revealed.
