Government strategies to deal with Forex speculations

Government strategies
Minister of Information, Kojo Oppong Nkrumah.

Government says it is taking steps to find a lasting solution to dealing with the current speculations about Forex rates.

At an emergency meeting with the media to address the current challenges bedeviling the country, the Minister of Information Kojo Oppong Nkrumah said the Bank of Ghana will this week hold meetings with Operators of Forex markets and Managers of Banks to work out strategies to ensure that the forex is kept at the exact rate as set by the regulator.

”Tomorrow morning for example Central Bank, the Bank of Ghana will be meeting the managing Directors of some of the banks and the heads of I think the Forex Bureau Associations for series of discussions aimed at ensuring that the supply of Forex unto the Forex market is stabilized and the overpricing is also halted and that people who need access to forex for legitimate transactions get same without hindrance in the banking halls and at the forex bureaus as against on the black markets or using some rates coming from some other quarter”, Mr. Oppong Nkrumah stated.

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