Audio By Carbonatix
Commercial Banks want the central bank to review its recent policy measures especially the one which requires them to hold nine percent of their foreign reserves in cedis.
The measures introduced earlier this year to stabilize the cedi included key interest rate hikes, reviewing reserve requirements for banks and bond auctions to mop up excess liquidity.
Governor of the Bank of Ghana, Dr. Kofi Wampah has however maintained that they will still hold on to these measures despite the cedi’s stability.According to Executive Secretary of the Ghana Association of Bankers, D.K Mensah the measure is seriously affecting their operations.
He told Joy Business that: “All your dollar holdings for instance, we need to make cedi cover for them, in addition we have to look for cedis to cover your dollars, that is why some banks were even charging for holding your dollars, because it involves a cost to them”
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
China no longer Pentagon’s top security priority
7 minutes -
TikTok US venture to collect precise user location data
54 minutes -
Dr. Nyaho-Tamakloe blasts NPP’s top-down rebuilding strategy
2 hours -
UniMAC mourns student killed in hit-and-run near South Legon campus
2 hours -
Single company contracted by DVLA to produce number plates joins suit blocking introduction of new number plates as defendant
2 hours -
Bawumia tipped to win NPP primary with 57% – Global InfoAnalytics final poll
3 hours -
Manhunt for Gomoa Potsin herdsman after Kasoa election day gunman confesses
4 hours -
Achimota Retail Centre braces for Day 2 of ‘Joy At The Mall’ after Day 1 extravaganza
4 hours -
Joe Wise hopes for an NPP Chairman like the NDC’s Asiedu Nketiah
5 hours -
Joy Prime’s Prime Insight to dissect NPP peace pact and fuel price drop on Saturday
6 hours -
Harry says sacrifices by Nato troops in Afghanistan deserve ‘respect’
8 hours -
Vice President visits Sports Ministry to strengthen coordination, oversee 2026 plans
8 hours -
CHRAJ urges Ofori-Atta to return, assures intervention in case of unfair trial
8 hours -
Felicia Anthonio: A global voice shaping the future of digital rights and internet freedom
8 hours -
Daddy Lumba left no will – High Court
9 hours
