The Bank of Ghana Governor Dr. Johnson Asiama, has revealed that the Central Bank is considering price hedging programme for its gold exports.
The move, according to him, is to ensure that its loss is minimise, should the price of gold start declining due to developments on the international market.
The Governor of the Bank of Governor disclosed this at the Stanbic Bank/Graphic Breakfast meeting in Accra today June 15 2025.
The action by the Bank of Ghana is timely as some firms, including Barclays PLC , have projected that gold prices could decline in the coming months.
Bank of Ghana’s Reserves and Sustaining of Cedi
The Governor of the Bank of Ghana also revealed that the country’s international reserves have reached $11.0 billion as of June this year.
Dr. Johnson Asiama maintained this hedging programme may go a long way to deal with any potential shocks to the country’s export earnings.
The Governor also announced that “I believe that the time has come for not only the Bank of Ghana, but businesses should also explore hedging to minimise their shocks in these challenging times.”
He added that other measures are being implemented that will go long way to help firmly stabilise the cedi.
The Governor of Bank of Ghana also assured that the Central Bank will continue to take actions and measures that will help in sustaining forex stability.
The Governor also challenged exporters and businesses to invest their earnings in Ghana, adding that “The more value is kept within Ghana, the stronger the cedi becomes as well as the stability of the economy.”
The Governor also challenged local businesses to see the cedi as the currency of preference for all transaction locally.
“When you go to countries like South Africa, it’s purely their local currency. Let’s also try and do the same, when it comes to the Ghana cedi”, the Governor added
The Governor also promised to work with all informants when it comes to maintaining market stability, stating, “I will encourage everyone to share market information with us and promise to work on it”.
“The cedi is the only legal tender in Ghana and lets make it work for all of us”, the Governor added.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
