The Bank of Ghana has issued a statement cautioning the public that the Foreign Exchange Act, 2006 (Act 723) prohibits the pricing, advertising and receipt or payment for goods and services in foreign currency in Ghana.

According to the statement, the sole legal tender in Ghana is the Ghana Cedi and Ghana pesewa.

The central bank has therefore asked the public to be guided by the rules because such violations are punishable by summary conviction, a fine of up to five penalty units or a prison if not more than 18 months, or both.

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