The Bank of Ghana has enough in its reserve- Governor Addison says.

According to the Governor of the Bank of Ghana Dr. Ernest Addison, they have accumulated enough in their reserve to meet the market demand as the country heads into the Christmas season.

Demand for forex usually increase owing to traders importing goods to fill their shops few months to Christmas. This pressure sometimes result in forex shortage and the depreciation of the Cedi.

At the press briefing following the Monetary Policy Committee (MPC) meeting in Accra, Dr. Addison was asked if the Bank of Ghana foreign exchange reserve was strong enough to support the anticipated market demand if necessary.

"I think the market should be rest assured that the central bank has enough reserves. If it is necessary for us to increase the foreign exchange intervention, we will. The country’s Gross International Reserves improved by $1.58 billion to $7.50 billion at the end of August, covering 4 months of import cover," he stated.