Dollar supply much better than a month ago – AGI
By Praisebell Rosemond Larbi
The Association of Ghana Industries (AGI) reports that the supply of US dollars from commercial banks has improved modestly, easing pressure on businesses that rely on foreign exchange for imports and operations.
AGI President Dr Humphrey Ayim-Darke, in a media interview, noted that access to dollars is “way better than a month ago,” highlighting that the cedi has shown some stability over the past week.
He credited recent Bank of Ghana (BoG) measures aimed at tightening foreign exchange regulations.
“It is clear that the recent forex enforcement measures and guidelines are actually working. If these measures will indeed help stabilise the cedi going forward, that should give us some comfort,” Dr Ayim-Darke said.
While acknowledging that some industries face challenges under the new rules, he urged the BoG to maintain the reforms to preserve the gains.
Commenting on the BoG directive that shipping lines and port agencies align their rates with official Central Bank and commercial bank quotes, Dr Ayim-Darke revealed that not all operators have complied.
“I think the Bank of Ghana and the Ghana Shipping Authority must move to crack the whip,” he stressed, calling for stricter enforcement of forex regulations across the shipping sector.
Market data show the cedi’s depreciation slowed slightly last week, following heavy pressure against the US dollar in August 2025. Analysts attribute the improvement to new regulatory measures and tighter oversight of remittance inflows.
The BoG reinforced liquidity this week with one of its largest-ever single FX forward auctions, offering USD300 million. Commercial banks accepted USD243 million at a price range of GHS12.15 to GHS12.40 per dollar.
BoG Director of Research Dr Philip Abradu-Otoo expressed optimism that cedi pressures will ease further, citing recent directives requiring mining companies to auction their dollar inflows through local banks, which has already boosted market liquidity.
