The Bank of Ghana has issued an official notice affirming that there has been no change to existing regulations concerning foreign exchange withdrawals from local banks.
The central bank assured the public that over-the-counter (OTC) cash withdrawals in foreign currency from Foreign Exchange Accounts (FEAs) and Foreign Currency Accounts (FCAs) remain permitted.
The notice, dated 15th May 2025 and signed by the Secretary, Ms. Sandra Thompson, reiterates that holders of FEAs and FCAs are allowed to withdraw foreign currency over the counter, and cheque books may continue to be used on such accounts.
“For non-FEA and non-FCA account holders, foreign currency purchases for travel purposes are allowed but capped at US$10,000 per person per trip or its equivalent,” the statement clarified.
Such transactions must be supported by a valid passport, visa, and confirmed travel ticket, in line with BoG Notice No. BG/GOV/SEC/2014/09.
The BoG further emphasized that no revisions to these rules are being considered, countering public speculation and recent claims suggesting a tightening of access to foreign currency.
“The Bank has not contemplated reviewing these existing measures,” the notice firmly stated.
Banks and members of the public are urged to comply strictly with these existing provisions and rely solely on official communications from the Bank of Ghana for regulatory guidance.
This clarification comes amid public confusion following statements from some individuals suggesting restrictions on foreign exchange withdrawals—a claim now firmly dispelled by the central bank.
Find the statement below:
