Mahama sets cedi’s real value at ¢10-¢12
By Praisebell Rosemond Larbi
President John Dramani Mahama has stated that the real value of the Ghanaian cedi currently lies between GH¢10 and GH¢12 to the U.S. dollar, adding that efforts to stabilize the currency must strike a fair balance that reflects economic realities.
Speaking in Accra on Tuesday, June 3, 2025, during an engagement with a delegation from the Ghanaian Exporters Federation, President Mahama noted that recent foreign exchange auctions by the Bank of Ghana have helped stabilize the cedi at around ₵10 to the dollar, a level he described as closer to the currency’s “true value.”
“The real value of the cedi is anywhere between 10 and 12 cedis to the dollar. There must be a fair balance in trying to achieve the true value of the cedi. Luckily, the forex auction has brought it to just about 10 cedis, and it appears to be stabilizing there,” President Mahama said.
Prez Mahama commended the Bank of Ghana for using market-driven interventions to help curb speculative pressures and provide predictability to importers, exporters, and investors. He emphasized, however, that true currency stability will depend on sustainable economic fundamentals, including strong export earnings, lower inflation, and improved fiscal discipline.
The President also used the opportunity to assure the export community of his administration’s commitment to supporting the sector should he return to office. He acknowledged the critical role exporters play in driving foreign exchange inflows and pledged to institute policies that will remove bureaucratic bottlenecks and improve competitiveness.
“Exporters are central to the growth of our economy; we will support you with the right policies, access to credit, and a conducive business environment,” he said.
Prez Mahama’s remarks come at a time when the exchange rate and currency volatility remain major concerns for the business community, especially in the trade and manufacturing sectors. The Ghanaian cedi has seen relative calm in recent weeks, buoyed by increased foreign exchange inflows, better-than-expected fiscal performance, and ongoing support from the IMF. The meeting with the Ghanaian Exporters Federation forms part of Prez Mahama’s wider economic consultations.
