{"id":132320,"date":"2023-12-18T12:12:08","date_gmt":"2023-12-18T12:12:08","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/12\/18\/akufo-addo-commends-bog-on-the-cedis-stability-against-the-dollar\/"},"modified":"2023-12-18T12:12:08","modified_gmt":"2023-12-18T12:12:08","slug":"akufo-addo-commends-bog-on-the-cedis-stability-against-the-dollar","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/12\/18\/akufo-addo-commends-bog-on-the-cedis-stability-against-the-dollar\/","title":{"rendered":"Akufo-Addo commends BoG on the cedi\u2019s stability against the dollar \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>President\u00a0Nana Addo Dankwa Akufo-Addo\u00a0has commended the\u00a0Bank of Ghana\u00a0(BoG) for its role in achieving and maintaining the cedi\u2019s stability against the US dollar.<\/p>\n<p>Speaking at an end-of-year cocktail event in Accra on Thursday, December 14, 2023, the President acknowledged the central bank\u2019s efforts in ensuring what he termed as a sound financial system in the country.<\/p>\n<p>\u201cThe\u00a0Bank of Ghana\u00a0has distinguished itself to the admiration of all well-meaning persons\u2026It has proven to be a sound banker to the government and a safe custodian of the nation\u2019s asset precious asset,\u201d he said.<\/p>\n<p>He went on to highlight the BoG\u2019s efficiency as a currency manager, its reliability as a source and regulator of liquidity, and its role as a dependable lender of last resort to the banking sector.<\/p>\n<p>\u201cIt has been an efficient currency manager, a reliable source and regulator of liquidity, and above all a dependable lender of last resort to the banking sector,\u201d he added.<\/p>\n<p>The Interbank forex rates from the\u00a0Bank of Ghana\u00a0as of December 15, 2023, between the two currencies stood at a buying price of 11.6344 and a selling price of 11.6460.<\/p>\n<p>At a Forex bureau in Accra, the dollar is being bought at a rate of 12.00 and sold at 12.25.<\/p>\n<p>The Ghanaian economy has been a topical issue in recent months following a downturn occasioned by galloping inflation, a depreciating currency, and a general decline in the quality of life coupled with high cost of living.<\/p>\n<p>The government has serially blamed the aftermath of COVID-19 and the Russia-Ukraine war before submitting to a US$3 billion IMF loan last year, of which US$600 million as tranche one has been credited to the government\u00a0account.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-embed-handler wp-block-embed-embed-handler wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=2AkhetQhC6k\">https:\/\/www.youtube.com\/watch?v=2AkhetQhC6k<\/a><\/p>\n<\/div>\n<\/figure>\n<p><strong>Source:\u00a0<\/strong>www.ghanaweb.com<\/p>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>President\u00a0Nana Addo Dankwa Akufo-Addo\u00a0has commended the\u00a0Bank of Ghana\u00a0(BoG) for its role in achieving and maintaining the cedi\u2019s stability against the US dollar. Speaking at an end-of-year cocktail event in Accra on Thursday, December 14, 2023, the President acknowledged the central bank\u2019s efforts in ensuring what he termed as a sound financial system in the country. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":111830,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-132320","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Akufo-Addo commends BoG on the cedi\u2019s stability against the dollar \u2013 - 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\/2023\/12\/18\/akufo-addo-commends-bog-on-the-cedis-stability-against-the-dollar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Akufo-Addo commends BoG on the cedi\u2019s stability against the dollar \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"President\u00a0Nana Addo Dankwa Akufo-Addo\u00a0has commended the\u00a0Bank of Ghana\u00a0(BoG) for its role in achieving and maintaining the cedi\u2019s stability against the US dollar. Speaking at an end-of-year cocktail event in Accra on Thursday, December 14, 2023, the President acknowledged the central bank\u2019s efforts in ensuring what he termed as a sound financial system in the country. 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