The Ghana Union of Traders' Associations (GUTA) has commended the government and the Bank of Ghana (BoG) for their efforts in stabilising the cedi.
This follows the Ghana cedi gradually reaching the ¢12 to the dollar mark within just a week. The dollar is currently selling at ¢12.10 at most forex bureaus or the retail market.
GUTA, in a release signed by its President, Dr Joseph Obeng urged the “government to continue with more efforts to sustain the program and bring relief to the business community.”
“We hope to see further and continuous appreciation of the Cedi and envisage that the economy will turn around in the shortest possible time,” parts of the statement read.
They also appealed to the business community “to also adjust prices of goods and services accordingly, to make the consuming public feel the impact of this positive trend.”
Meanwhile, a visit by Joy Business to some forex bureaus indicates that most of the operators are selling the dollar for more than ¢12. They claim the supply of dollars has reduced significantly.
Again, the cedi is losing ground quickly against the pound and euro. Whilst a pound is going for about ¢12.70, one euro is selling at ¢11.10.
Latest Stories
-
Respect is earned, not commanded – Raymond Atuguba tells public officials
3 mins -
Failure to properly transfer gun ownership can land you behind bars
25 mins -
Reduce over-reliance on imports to stabilise cedi – TUC boss tells Ghanaians
41 mins -
‘We’re taking it game by game’ – Ibrahim Tanko on Accra Lions’ title ambitions
50 mins -
Nigerians pick sides as Wizkid and Davido clash online
54 mins -
Nigeria Workers’ Day: Civil servants get pay rises up to 35%
60 mins -
“I am the Austrian team boss with all my heart,” Rangnick turns down Bayern
1 hour -
Failed asylum seeker given £3,000 to go to Rwanda
1 hour -
Nigerian gasoline prices soar as shortages worsen cost of living crisis
2 hours -
Paris 2024: We will win medal at Olympics if government invests more – GPC President
2 hours -
Akufo-Addo calls for protection of Ghana’s democratic reputation and identity
2 hours -
Apple working to fix alarming iPhone issue
2 hours -
‘You won’t win GPL title without your own stadium’ – Bashir Hayford tells Kotoko, Hearts
2 hours -
Ryan Garcia denies using performance-enhancing drugs after beating Devin Haney
2 hours -
We must change phenomenon of moneyed elections – Raymond Atuguba
2 hours