Alexander Hottordze is the Chairman of the Trade, Industry, and Tourism Committee in Parliament
The Chairman of the Trade, Industry, and Tourism Committee in Parliament, Alexander Roosevelt Hottordze, has called on the Bank of Ghana (BoG) to strengthen its monitoring of foreign exchange inflows and global trade developments.
Speaking in an interview with Citi News on June 29, 2025, he stressed that the central bank must remain vigilant to protect the stability of the Ghanaian cedi.
According to him, the goal is to support the recent recovery of the cedi.
He explained that in the past, the US dollar was easily accessible, which led to a high level of dollarisation in the Ghanaian economy.
He noted that this made the dollar the preferred currency for many transactions, significantly weakening the position of the cedi.
However, this trend has shifted in recent times, with the cedi now showing signs of strength and gradually gaining ground against the dollar.
Roosevelt urged the BoG not only to monitor foreign exchange inflows but also to closely track both international and domestic business trends.
“What the Bank of Ghana must do now is to monitor the flow of foreign currency and track both international and local business trends to ensure that the dollar does not once again overwhelm the cedi,” he said.
DR/MA
GhanaWeb Special: The gold market that fuels galamsey
How social engineering hacks your mind and your bank account
