BoG To Review Certain Foreign Exchange Measures To Stabilise Cedi

News: The Bank of Ghana (BoG) will reportedly review certain foreign exchange measures it introduced in February 2014 for halting the free fall of the cedi against major trading currencies. The review is expected to focus on the directives that are adversely impacting businesses. The current banking regulations necessitate the governor to evaluate these directives after three months, according to Ghanaian news website Joy Business. The BoG introduced the measures to stabilise the cedi, which lost around 5% of its value to the US dollar. The BoG's measures to stabilise the currency are showing results, with the cedi's rate of fall slowing from January 2014's alarming peak, according to BoG Governor Henry Kofi Wampah (MyJoyOnline).

This article is tagged to:
Geography: Ghana

Enter your details to read the full article

By submitting this form you are acknowledging that you have read and understood our Privacy Policy.