The Chief Executive Officer of Dalex Finance, Joe Jackson, has stated that the recent drop in Ghana’s gold reserves has not led to a depreciation of the Ghana cedi.
According to him, although concerns have been raised about the decline in gold holdings, the local currency has remained relatively stable, indicating that other economic factors continue to support its performance.
Mr Jackson explained that movements in the cedi are influenced by a range of variables, including monetary policy measures, foreign exchange inflows and broader macroeconomic conditions, rather than gold reserves alone.
He urged the public to avoid drawing direct conclusions between gold reserve levels and the immediate performance of the currency, emphasising the need for a broader economic assessment when analysing exchange rate trends.
