The Bank of Ghana recently warned businesses quoting U.S. dollar prices that the practice is still prohibited and that the cedi remains Ghana’s sole legal tender. The bank said it is working with law enforcement to “clamp down on illegal foreign exchange operations.” In addition to naming and shaming businesses violating the law, a Ghanaian actress urged the central bank to stop Ghanaians from operating USD accounts.
Cedi Ghana’s Sole Legal Tender
As shortages of foreign exchange and currency depreciation continue to weigh on the Ghanaian economy, the country’s central bank has again warned businesses displaying prices in U.S. dollars that the cedi is the sole legal tender. Responding to Ghanaian actress Lydia Forson’s Nov. 2 tweet which questioned the practice of quoting prices in U.S. dollars for local real estate transactions, the Bank of Ghana (BOG) insisted that the practice is still outlawed.
Dear @thebankofghana we need to know the dollar is the official currency fo
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