The Trade, Industry and Tourism Committee of Parliament has called on the Bank of Ghana (BOG) to increase currency surveillance and global trading trends to maintain the recent recovery of Ghana's Cedi.Local currencies have increased significantly, estimated at around GHS 15.00 to GHS 10.20 per US dollar from the end of May to the end of May 2025.
This back rash was mainly due to improved performance and increased mobile influx of traditional exports.
Committee chair Alexander Roosevelt stressed the need for continued vigilance by the central bank in a conversation with City News.
Looking at how the dollar behaves now compared to the past, this has changed when people have easy access to what leads to the economy's dollarization. Cedy wins on the ground, he realizes.
He added that Ghanaian banks must now do. It is a foreign currency flow, pursuing both international and local business trends to ensure that the dollar does not overwhelm the Cedi.
The committee's comments reflect more concerns about exchange rate volatility and impact on inflation, trade and business plans.