Governor of the Bank of Ghana (BoG), Dr.
Johnson Asiama, says the Central Bank does not have any specific target rate for the appreciation of the cedi.
Speaking at a press conference after the Monetary Policy Committee (MPC) meeting to review recent economic developments, he stated, "We don't have such a plan on the table that says when the cedi reaches a certain point, we must move to ease the appreciation." He explained that while the Bank of Ghana is concerned about excessive currency depreciation, it does not maintain a specific appreciation target. "As much as we don't want to see the Ghana cedi depreciate excessively, we don't keep a target rate that we want to defend aggressively," he said.
Addressing ongoing speculation on the markets, Dr.
