Dr Amoah gave the advice when the
He said per the new directives, all business transactions were to be advertised, invoiced and priced in the Ghana Cedi denomination but not in any foreign currency and that hotel operators were not exempted.
He said the directives, which were of international best practices, would help to ensure clarity and transparency in the financial sector as well as to streamline business activities.
"The BoG directives will also help to deliver price stability and low inflation which will help the economy to grow and also benefit fixed income earners," he said.
Dr Amoah said the new measures by the central bank were not intended to stifle business and economic activities and must therefore be embraced by all.
He announced that the BoG had withdrawn the license of all hotels that were permitted to transact business in US dollars, and it was imperative that they respected the directive.
Some hotel operators were however not happy by the new measures as they complained of the difficulties involved in getting a forex bureau at night to change foreign currencies into Ghana Cedis, especially for customers who arrived from abroad at midnight.
Dr Amoah however, advised them to apply for forex bureau licence to enable them to solve that problem.
He said there was no risk involved in charging cedis for any business transaction and commended
She said some hotels which hitherto were charging in US dollars had started charging in cedis and urged others to emulate.
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