Search

BoG Intensifies FX Liquidity Measures Amid Year-End Dollar Demand Pressures

Allen dreyfus Logo
© Allen Dreyfus
  • Ghana’s central bank injects $410m into the market in early November to stabilise the cedi
  • Cedi rebounds across major currencies but faces year-end risks and election-related pressures

Accra, Ghana – The Bank of Ghana (BoG) has ramped up foreign exchange (FX) liquidity injections to counteract heightened dollar demand pressures as the year draws to a close. Data from the central bank’s FX operations reveals $410 million was injected into the market in the first 13 days of November 2024. This figure sharply contrasts with the $500 million disbursed between August and October, marking the highest quarterly spot market intervention in years, coinciding with the approach of Ghana’s 2024 general elections.

This article is free to read.

Sign up for free or sign in to continue
reading. Unlike our competitors, we don't force you to pay
to read the news but we do need your email address to
make your experience better.

Create your free account or sign in


Recent Business

A vibrant display of traditional dance in Botswana. Photo by Xitsundzuxo Himina @ Pexels
Why Botswana’s inflation surge signals wider risks for commodity economies
Read More »
Molten metal pouring from ladle in industrial foundry. Photo by Bence Szemerey @Pexels
Can Kipushi’s zinc boom in Congo redraw Africa’s commodity power balance?
Read More »
Bassirou Diomaye Faye, President of Senegal. Photo @ Office of President, Senegal/Facebook
Is Senegal drifting towards default as political rift deepens?
Read More »

Recent Politics

Senegal Finance Minister Cheikh Diba and IMF boss Kristalina Georgiva. Photo Kristalina Georgieva/X
Will Cheikh Diba’s market credibility outlast Sonko’s grip on Senegal?
Read More »
Hands preparing tea on a patterned rug with traditional bread and sugar in Abuja, Nigeria. Photo by Muhammad-Taha Ibrahim @Pexels
Nigeria’s sugar tax exposes Tinubu’s painful reform dilemma
Read More »
A scenic view of wind turbines at sunrise, capturing sustainable energy. Photo by Lorna Pauli @Pexel
Egypt’s green energy sprint masks a deepening gas crisis
Read More »

Latest Posts

Latest news insights