The Central Bank has asked business people not to be alarmed at the introduction of the new notes because there are enough dollars to make the cedi stabilized, this circulation of assurance was issued to all commercial banks in the country.
This could be a new way by BoG to control the business space and sentiments because of the impact it can make.
The pressure amounted on the cedi is backed by fears and panic and not realistic demands that the currency’s state could worsen.
The Regulator ‘s reserve has over 8 billion dollars for the month although pressure on the local money gets high.
Presently, the legal tender is competing the dollar at GHC5.57075. This could get bad as businesses will seek more dollars to fund their imports now.
According to the Central Bank, they are trying their possible best to support its forex to that of the market.
This will solve the huge difference between the regulator’s rate and that of the commercial banks rendering the public and firmly aid in making the cedi calm against the dollar.