First and Foremost, I think what we need to understand is that the exchange rate reflects a price. And, as is the case with all prices for goods and services in the economy, the exchange rate will change and respond to the dynamics of the economy and will always be subject to the dynamics of demand and supply.
As a 2  country, we have adopted a flexible exchange rate regime, which has served us well in the past and continues to do so under the Bank’s inflation targeting monetary policy framework. 4. Looking at the history, the flexible exchange rate regime has served Ghana well, given the structural characteristics of the Ghanaian economy.