Illegal dollar trading is fueling the fall of the CEDI. Thus, banks have called for strict measures to restrict access to foreign currencies (forex) in the country.

Bankers said that easy access to forex, especially the US dollar, through the informal sector allowed individuals and institutions to hoard more Easily these currencies with the slightest sign of economic uncertainty. The managing director of the Ghana Bankers Association (GAB), John Awuah, said that this had created artificial demand for currencies, leading to a permanent depreciation of the local currency. John Awuah therefore called on the Bank of Ghana (BoG) and the government to strengthen control over access to forex and to discourage savings to help boost CEDI's wealth.