Accra, Ghana – The Bank of Ghana (BoG) don drop ein new Foreign Exchange (FX) Operations Framework, wey dey aim to make things clear pass before, build up the country ein reserves, control how the Cedi dey move, and keep market confidence high. Dem go do dis one through rules-based interventions and competitive auctions.
Dis new framework dey come as Ghana dey try stabilize ein economy and make sure say the Cedi dey perform well. The BoG dey believe say by making the FX market more transparent and predictable, dem go attract more investors and reduce unnecessary fluctuations for the exchange rate.
Key Goals of the New FX Framework
- Transparency: The BoG dey promise to dey open about how dem dey intervene for the FX market.
- Reserves Building: Dem dey plan to build up Ghana ein foreign reserves to make the economy strong pass before.
- Volatility Management: The framework go help control how the Cedi dey move up and down, so businesses go fit plan better.
- Market Confidence: The BoG dey hope say dis new framework go make people trust the market more.
How E Go Work?
The BoG go dey use rules-based interventions, meaning say dem go follow set rules when dem dey buy or sell foreign currency. Dem go also dey use competitive auctions, where banks go fit bid for foreign currency. Dis one go make sure say the price dey fair and transparent.
Experts dey hail dis new framework as a step in the right direction. Dem dey say e go help Ghana manage ein foreign exchange market better and support the stability of the Cedi. The BoG dey call on all stakeholders to support dis initiative to make Ghana ein economy strong pass before.