Bank of Ghana

Ghanaian Cedi Second Worst-Performing Asset Among Sub-Saharan Africa’s Top 15 Currencies

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In just the first 17 days of the new year, the Ghanaian currency reportedly depreciated by 12.7%, making it the second worst-performing among Sub-Saharan Africa’s top 15 currencies. While one U.S. dollar bought 13.10 units of the cedi on the parallel…

Displaying US Dollar Prices Still Prohibited, Ghanaian Central Bank Tells Actress Lydia Forson

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The Bank of Ghana recently warned businesses quoting U.S. dollar prices that the practice is still prohibited and that the cedi remains Ghana’s sole legal tender. The bank said it is working with law enforcement to “clamp down on illegal foreign…

Ghana Central Bank Announces Launch of Regulatory Sandbox

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Ghana’s recently launched regulatory and innovation sandbox is the latest proof of the central bank’s commitment to a regulatory environment that promotes “innovation, financial inclusion and financial stability,” a statement released by the Bank of Ghana has said. According to the…

Ghana Central Bank Reiterates Warning Against Practice of Pricing Goods in Forex

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The Bank of Ghana has warned businesses and the public against the practice of demanding or making payments in foreign currency without its authorization. The central bank’s warning comes just over a month after Ghana’s currency was rated the worst performing…

Ghana CBDC Development: New Central Bank Document Outlines Key Motivations for Issuing the Digital Currency

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In a recently released document, the Bank of Ghana (BOG) outlines some of its key reasons for developing the central bank digital currency (CBDC). Also, in the document, the bank’s governor insists the institution is open to suggestions that will help…