The Bank of Ghana’s (BoG) gold coin initiative has experienced a decline in prices as the Ghanaian cedi continues to weaken against the US dollar. The coin, introduced as part of the central bank’s efforts to discourage dollar hoarding and stabilize the local currency, has become a focal point for investors seeking alternative assets.
As of Tuesday, May 20, 2025, the Bank of Ghana announced the following updated prices for its gold coins:
– The 0.25 oz coin: GH¢10,866.20, a decrease from GH¢10,914.02 on May 16, 2025.
– The 0.50 oz coin: GH¢21,953.15, down from GH¢22,041.96.
-The 1.00 oz coin: GH¢41,176.92, reduced from GH¢41,348.49.
The central bank explained that the price adjustment reflects the volatility in the foreign exchange market and the impact of cedi depreciation. By offering gold coins as a viable investment option, the initiative aims to absorb excess liquidity and bolster confidence in the local currency.
Experts have noted that the gold coin strategy not only provides a hedge against inflation but also encourages diversification of assets among Ghanaians. However, the continued depreciation of the cedi underscores the need for broader economic measures to stabilize the currency and strengthen the nation’s financial resilience.
The Bank of Ghana remains committed to monitoring market trends and adjusting its policies to support economic stability and growth.
Story by: Mercy Addai Turkson #ahotoronline.com
