If you’ve been hesitating to buy that dream car, secure your ideal home, or book a luxury hotel stay in Ghana because prices were listed in dollars, you’re no longer at a disadvantage. Thanks to the Bank of Ghana’s new cedi-only pricing regulations, all residents can now clearly see prices in Ghanaian cedis, making it easier to plan and budget without worrying about dollar conversions or fluctuating exchange rates.
Not so entirely, for licensed businesses, dollar payments can still be accepted, but they must comply with declaration requirements. This move brings clarity and predictability to purchases, empowering consumers to make informed lifestyle decisions in their local currency.
Under the directive, businesses cannot price, advertise, invoice, receive, or make payments in foreign currency for goods and services, including school fees, vehicle sales and rentals, real estate, airline tickets, domestic contracts, retail shopping, online sales, and hotel accommodation.
“The Ghana Cedi remains the only legal tender in Ghana,” the Bank of Ghana emphasized, highlighting the government’s push to formalize currency use across the country. Travelers and importers must also comply with FX-5 declaration forms and provide supporting documents such as endorsed bank slips, commercial invoices, and proof of the source of funds.
For years, pricing in dollars has been common in sectors like real estate, car sales, and hotels, largely due to perceived stability and high demand. Many Ghanaians found themselves negotiating in dollars, making budgeting difficult and putting the local currency at a disadvantage. Luxury apartments, vehicle rentals, and boutique hotel stays often list dollar prices, leaving consumers vulnerable to fluctuating rates and fueling informal trading channels.
The new measures could have a significant impact. By mandating Cedi-only transactions, the Bank of Ghana aims to strengthen the local currency, curb informal dollar dealings, and improve transparency in pricing. Businesses previously dependent on dollar pricing will now have to adjust their operations, which may pose short-term challenges but will ultimately reinforce the cedi as the country’s sole legal tender.
For consumers, this change could transform everyday transactions and lifestyle choices. From planning your next car purchase or booking a hotel stay to securing your dream home, you can now do so confidently in cedis, without worrying about fluctuating dollar rates or informal surcharges.
While businesses adapt, this measure reinforces the cedi as a practical currency for living, shopping, and enjoying the experiences Ghana has to offer.
In essence, the Bank of Ghana’s push isn’t just about regulation, it’s about making everyday life smoother, more predictable, and fully grounded in the local currency, giving Ghanaians the freedom to plan their lifestyle in their own money.
