The Ghanaian cedi has posted a remarkable appreciation of nearly 19 percent between April and May, a performance that the Bank of Ghana credits to a cocktail of factors including prudent monetary policy, improved market sentiment, and external sector gains.
Governor Dr.
Johnson Asiamah made the announcement during the opening session of the Bank's 124th Monetary Policy Committee meeting at the Bank Square on Wednesday. "Importantly, the cedi has appreciated sharply by nearly 19 percent between April and May, helping to ease imported inflation pressures and restore public confidence.
The appreciation reflects a combination of factors, including prudent monetary policy, improved market sentiment and external sector gains," he said.
