The Bank of Ghana (BoG) has announced plans to inject $1 billion into the foreign exchange (forex) market in November 2025 as part of its Foreign Exchange Intermediation Programme.
According to a notice issued by the central bank, the move is aimed at boosting liquidity in the forex market and stabilizing the Ghana cedi.
This new injection will bring the total forex support for October and November to approximately $2.15 billion.
The BoG’s revised FX programme will see the bank conducting spot-based dollar auctions for licensed commercial banks, with the volume for November expected to reach about $300 million twice a week. Subsequent monthly volumes will depend on market conditions and exchange rate trends.
In October 2025, the Bank of Ghana had already injected $1.15 billion into the market under the same programme.
Analysts believe these interventions played a major role in the cedi’s strong performance last month — appreciating by 13.9% against the US dollar, and achieving a 34.86% year-to-date gain by the end of October.
The central bank emphasized that it remains committed to transparency in its market operations and will continue to publish relevant data on its forex interventions to maintain confidence in the market.
The BoG’s efforts come at a crucial time as the country works to maintain exchange rate stability, control inflation, and restore investor confidence ahead of the 2026 fiscal year.
