Josiah
The Bank of Ghana (BoG) has issued a statement reaffirming the existing regulations governing foreign exchange withdrawals, amid growing public interest in the matter.
In a press release dated May 15, 2025, and signed by Secretary Sandra Thompson, the central bank clarified that over-the-counter (OTC) cash withdrawals in foreign currency from Foreign Exchange Accounts (FEA) and Foreign Currency Accounts (FCA) remain permitted.
“Over-the-counter cash withdrawals in foreign currency from Foreign Exchange Accounts (FEA) and Foreign Currency Accounts (FCA) are allowed,” the statement read, emphasizing that account holders may continue to access foreign currency directly from their accounts.
For individuals without FEA or FCA accounts, the Bank confirmed that forex purchases for travel purposes are still allowed but are subject to a limit of $10,000—or its equivalent—per person per trip. Such transactions must be supported by a valid passport, visa, and a confirmed travel ticket, in line with BOG Notice No. BG/GOV/SEC/2014/09.
The Bank also clarified that cheques and cheque books may continue to be issued on both FEA and FCA accounts.
Importantly, the BoG stressed that it has not considered making changes to these current measures. “The Bank has not contemplated reviewing these existing measures,” the notice affirmed.
In conclusion, the Bank of Ghana urged all financial institutions and members of the public to take note of the existing guidelines and ensure full compliance.
Source:Omanghana.com
