Ghana central bank interest in Chinese RMB increases with IMF listing

The interest of Ghana's central bank in introducing the Chinese Renminbi(RMB) as a trading currency has increased with the decision by the International Monetary Fund (IMF) to include it in its basket of Special Drawing Rights (SDR).

Governor of the Bank of Ghana Abdul-Nashiru Issahaku said here on Monday to a question by Xinhua during a press briefing that it was necessary to have the currency traded in Ghana due to its growing trade relations with China.

"Of course, we have been engaged in that conversation about the extent to which we engage the RMB but once the Fund has included it in the SDR basket, there is some legitimacy; it's been legitimized as a global/international currency to do business in," he said.

"So, with us also, that confidence and interest in that currency is also increased because we have a lot of trade between us and China, and I think if we can trade in that currency, that will be useful."

The governor promised that the authorities would increase their engagement with their Chinese counterparts on the best ways to have the Chinese currency traded in Ghana. Endit