The Bank of Ghana has assured that it has already instituted measures to manage any expected fall in cedis' value.

This follows reports that the local currency is expected record its worst decline by the end of this year. This could result in one requiring 2 Ghana    cedis to get a dollar by December.

But the Governor, Dr. Kofi Wampah says they have even tightened measures already instituted, as well as increase dollar supply.

'We have a policy that aims at broad stability in the exchange rate. We don't know the basis of the current projections in the media but we will     still continue to ensure that the tight monetary policies we have put in place since the second quarter would continue. But these interventions    would still be supported by the policies that would try and place a restriction on demand' he noted.

Dr. Wampah also confirmed that the decline in the country's reserves, but disagrees that the drop is alarming.

'Our reserves normally also follow a seasonal trend. Our foreign exchange inflows come mostly in the second half of the year. This is also a lean season and so we expect this to happen where you would see some decline in the reserve during the first half of the year but during the second half when our major inflows from cocoa and others come in you'd see an upward movement' he said.

The governor was speaking to JOY-BUSINESS at the official launch of the Collateral Registry. The registry which was established in February 2010 is managed by the Bank of Ghana. It is aimed at ensuring that assets used as guarantee for loans are actually worth their stated values.

The registry as at December last year had registered 95 thousand collaterals and 20 thousand searches. Over 150 thousand institutions are also connected to the web-based registry.

Finance Minister Seth Terpkeh on his part told JOY-BUSINESS he is hopeful the workings of Registry would help drive interest rates down.

Source: myjoyonline