BoG Denies Ban On Dollar Accounts-Holds Emergency MPC Meeting

The Bank of Ghana has dismissed reports that it has banned the opening of dollar accounts.

In a public notice, it said it has not issued any such directive to any banks.

Media reports had indicated that the Central Bank in a desperate measure to prevent the cedi from further depreciating halted local banks from opening dollar accounts for customers without written express permission.

The reports further said the move, however, was not part of the measures the Central Bank is taking to arrest the free fall of the cedi.

But on its Facebook Timeline, the BoG indicated that those reports are fake, urging customers to disregard them.

Meanwhile, the central bank announced it will hold an emergency Monetary Policy Committee meeting on Wednesday, August 17, 2022.

According to a statement from the Central Bank, the meeting will review developments in the economy in the past month.

No further explanation was given. Under normal circumstances, the MPC committee ought to have met next month between September 20th and 23rd.