
Audio By Carbonatix
The Bank of Ghana says it expects the cedi’s value to fully stabilize by October this year.The local currency still continues to fall in value against the dollar despite interventions by the central bank. It has lost almost 20 percent since the beginning of this year.Finance Minister, Dr. Kwabena Duffour had earlier predicted that the cedi’s free fall will halt by end of June.Second Deputy Governor of the Bank of Ghana, Millison Narh however tells Joy Business the bank now expects the cedi to be stable against other currencies from the fourth quarter of this year.The Bank of Ghana in May this year introduced some measures to halt the free fall in the cedis’ value.Analysts have however questioned government’s projection arguing that such intervention take about six months for the required measures to get results.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
GoldBod introduces measures to enhance accountability in ASM gold sector
2 minutes -
GoldBod engages licensed traders to promote transparency in gold trade
5 minutes -
Musician KooKusi’s ‘This Ability EP’ accepted into prestigious European mental health arts catalogue
11 minutes -
Falling gold prices raise concerns over Ghana’s economic outlook
12 minutes -
CUTS calls on government to increase allocation to Road Fund in 2026 Mid-Year Budget
20 minutes -
Daboya–Mankarigu residents urge Roads Minister to intervene in delayed road project
26 minutes -
Police summon Kwadwo Safo Akofena over shooting incident involving former Dome-Kwabenya MP
33 minutes -
Firearm cannot be displayed without IGP’s approval – Security expert
35 minutes -
Private security firms cannot legally arm guards for self-protection – Dr Adam Bonaa
37 minutes -
The Million dollar bank in every university
49 minutes -
Ghana highlights disability inclusion progress at UN Conference in New York
56 minutes -
Ghana calls for stronger global support for disability inclusion at UN conference
1 hour -
Gender Ministry begins community dialogue on social protection in Northern Region
1 hour -
Ghana seeks greater investment and renewable energy support through SEforALL partnership
1 hour -
Ghana deepens energy partnership with SEforALL to advance energy access, sustainable development
1 hour