Ghana: We haven’t banned dollar account – BoG

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

In a public notice, the Central Bank said it has not issued any directive to local banks in this regard.

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 the regulator of the banking industry has described the reports as false and therefore customers must disregard them.