The Bank of Ghana (BoG) has reiterated that existing regulations governing foreign exchange cash withdrawals remain unchanged, allowing account holders to access their foreign currency over the counter.
In a statement issued on Wednesday, May 15, 2025, the central bank clarified that customers with Foreign Exchange Accounts (FEA) and Foreign Currency Accounts (FCA) may continue to withdraw cash in foreign currency directly from their accounts. It further emphasized that there are no plans to revise these guidelines at this time.
The BoG also addressed the rights of individuals without such accounts, stating that they can still purchase foreign exchange for travel—up to a maximum of $10,000 or its equivalent per person per trip. These transactions, however, must be supported by a valid passport, visa, and confirmed travel ticket, in accordance with BoG Notice No. BG/GOV/SEC/2014/09.
In addition, the central bank confirmed that cheques and cheque books remain permissible for both FEA and FCA accounts, maintaining the status quo.
“The Bank has not contemplated reviewing these existing measures,” the statement said, urging commercial banks and the general public to strictly observe the current foreign exchange rules.
The reaffirmation comes at a time when market watchers are closely monitoring foreign exchange activity amid persistent economic pressures. The BoG’s directive is intended to ensure regulatory consistency, curb abuse, and safeguard the stability of Ghana’s forex market.
The guidelines are anchored in the Foreign Exchange Act, 2006 (Act 723), which empowers the central bank to regulate and oversee all foreign exchange transactions in the country.
