The Bank of Ghana (BoG) has introduced a series of strategic measures aimed at stabilizing the Ghana cedi and addressing exchange rate volatility throughout 2026.
In a statement released on Monday, the central bank detailed a multi-pronged strategy to manage currency pressures. Central to this plan is the streamlining of cedi-related offshore transactions through updated Vostro account guidelines, a move intended to “Streamlining cedi-related offshore transactions to improve FX inflows into the interbank market.”
The regulator’s approach also includes active foreign exchange intermediation to provide necessary market liquidity, alongside intensified monitoring to ensure remittances are appropriately routed. Furthermore, the BoG is maintaining a cautious monetary policy stance to reinforce market stability.
“These measures, and the implementation of GANRAP, which has been approved by Parliament, are expected to work together to smooth volatility, support investor confidence, and maintain orderly exchange rate conditions,” the BoG stated.
In addition to exchange rate management, the central bank addressed the rejection of small-denomination coins in local trade. The BoG reminded the public that all banknotes and coins issued by the bank are legal tender under the Currency Act, 1964 (Act 242), and cannot be refused for the settlement of transactions.
The bank warned that rejecting denominations such as the one, five, and twenty pesewa coins leads to the artificial rounding up of prices, which can undermine overall price stability. While acknowledging that inflation often reduces the purchasing power of smaller coins over time, the BoG emphasized that “While it is important to ensure that coins remain available in the system, the key issue is public acceptance and compliance with legal tender requirements.”
To address this, the BoG committed to increasing public education and engaging with transport operators, traders, and market associations. The bank also plans to collaborate with financial institutions to improve the distribution of coins and encourage pricing models that utilize all available denominations.
“Through these measures, the Bank aims to maintain the efficient circulation of coins, prevent unnecessary price rounding, and safeguard transaction efficiency and price stability,” the statement concluded.