Joe Jackson, CEO of Dalex Finance, says the Ghanaian cedi’s slide past GH¢12 to the US dollar marks a more sustainable equilibrium for the Central Bank. Speaking on the Point of View programme on September 8, 2025, he contrasted the current rate with the artificially supported GH¢10.5 level seen earlier this year.
He explained that while the Bank of Ghana was intervening in foreign exchange markets, the cedi hovered around GH¢10 to GH¢11. Once these interventions ceased, however, the rate surged beyond GH¢12.
Jackson emphasized that, although the GH¢10.5 rate created a feel-good sentiment and boosted confidence initially, it was overvalued and unsustainable in the long term. He described the current GH¢12-plus level as “a far more defensible position” for policymakers.
His remarks highlight the central bank’s delicate balance between maintaining market stability and designing durable currency policy amid shifting economic realities.
