{"id":751872,"date":"2019-11-25T18:34:57","date_gmt":"2019-11-25T18:34:57","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/11\/25\/ghana-reserves-increase-by-1-67bn\/"},"modified":"2019-11-25T18:34:57","modified_gmt":"2019-11-25T18:34:57","slug":"ghana-reserves-increase-by-1-67bn","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/11\/25\/ghana-reserves-increase-by-1-67bn\/","title":{"rendered":"Ghana Reserves Increase By $1.67bn"},"content":{"rendered":"

<\/p>\n

\n

Dr Ernest Addison \u2013 Governor BoG<\/strong><\/p>\n

Ghana\u2019s Gross International Reserves (GIR) increased by $1.67 billion to $8.70 billion as at November 15, 2019.<\/p>\n

The Bank of Ghana (BoG) made this known to journalists on Monday, November 25, 2019, at a press conference after its 91st Monetary Policy Meeting.<\/p>\n

Governor of the Central Bank, Dr. Ernest Addison, said the increase provided a cover for 4.2 months of imports.<\/p>\n

He stated that \u201cthis compares with the end-December 2018 position of $7.02 billion (equivalent to 3.6 months of import cover).<\/p>\n

Exchange Market<\/p>\n

According to him, the Foreign exchange market has continued to remain calm since the sharp depreciations in the first quarter of the year.<\/p>\n

As at November 21, 2019, he noted, the Ghana cedi has depreciated by 10.4 percent against the US dollar compared with an 8.1 percent depreciation for the corresponding period in 2018.<\/p>\n

Against the British Pound and Euro, he reported, the Ghana Cedi cumulatively depreciated by 11.2 percent and 7.4 percent respectively, compared with 2.6 percent over the corresponding period in 2018.<\/p>\n

In trade-weighted terms, the real effective exchange rate continued to be broadly aligned with the underlying fundamentals.<\/p>\n

BY Melvin Tarlue <\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Dr Ernest Addison \u2013 Governor BoG Ghana\u2019s Gross International Reserves (GIR) increased by $1.67 billion to $8.70 billion as at November 15, 2019. The Bank of Ghana (BoG) made this known to journalists on Monday, November 25, 2019, at a press conference after its 91st Monetary Policy Meeting. Governor of the Central Bank, Dr. Ernest […]<\/p>\n","protected":false},"author":1,"featured_media":704178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-751872","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nGhana Reserves Increase By $1.67bn - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/11\/25\/ghana-reserves-increase-by-1-67bn\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ghana Reserves Increase By $1.67bn - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Dr Ernest Addison \u2013 Governor BoG Ghana\u2019s Gross International Reserves (GIR) increased by $1.67 billion to $8.70 billion as at November 15, 2019. 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