Audio By Carbonatix
Commercial banks have denied deliberately holding on to their dollar cash despite the adequate supply as assured by the Bank of Ghana.
There are complaints from Foreign Currency Account holders that their banks are unable to provide them with dollar-cash when withdrawing.
JOY-BUSINESS recently witnessed an incident where two holders were told they could only be given cedis instead of dollars from their foreign accounts.
Executive Secretary of the Association of Bankers, D.K Mensah however explains to JOYBUSINESS banks’ just cannot meet all the demands of depositors.
“The money is simply not there. The dollar is not our legal tender and so we all need to change our attitude and have confidence in our cedi because when you come to the bank for dollars the country would have to import the dollar before it would be available. Banks have however been directed not to import dollars anymore and so if you come to the bank and it says there are no dollars to offer that is the situation” he explained.
He however adds there has been some improvement in terms of dollar cash supply by the Bank of Ghana.
“There has been quite some improvement in the demand and supply of foreign cash in the economy since the Bank of Ghana introduced its measures to stabilize the cedi. You can see that from the stability of the exchange from which has fallen from over 2 cedis to about 1.9 and we hope it going continue” he concluded.
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
-
China no longer Pentagon’s top security priority
18 minutes -
TikTok US venture to collect precise user location data
1 hour -
Dr. Nyaho-Tamakloe blasts NPP’s top-down rebuilding strategy
2 hours -
UniMAC mourns student killed in hit-and-run near South Legon campus
2 hours -
Single company contracted by DVLA to produce number plates joins suit blocking introduction of new number plates as defendant
3 hours -
Bawumia tipped to win NPP primary with 57% – Global InfoAnalytics final poll
3 hours -
Manhunt for Gomoa Potsin herdsman after Kasoa election day gunman confesses
4 hours -
Achimota Retail Centre braces for Day 2 of ‘Joy At The Mall’ after Day 1 extravaganza
5 hours -
Joe Wise hopes for an NPP Chairman like the NDC’s Asiedu Nketiah
5 hours -
Joy Prime’s Prime Insight to dissect NPP peace pact and fuel price drop on Saturday
6 hours -
Harry says sacrifices by Nato troops in Afghanistan deserve ‘respect’
8 hours -
Vice President visits Sports Ministry to strengthen coordination, oversee 2026 plans
8 hours -
CHRAJ urges Ofori-Atta to return, assures intervention in case of unfair trial
8 hours -
Felicia Anthonio: A global voice shaping the future of digital rights and internet freedom
9 hours -
Daddy Lumba left no will – High Court
9 hours
