Audio By Carbonatix
Banks in Ghana have rejected suggestions of not doing much to encourage businesses to use the banking system for foreign transactions.
One of the reasons being offered for the cedi decline, is the huge amounts of dollars carried by traders on the Ghana-Asia corridor. Some of the traders have told JOYBUSINES they prefer this because of difficulties using the banks.
General Manager in charge of Consumer Banking at Merchant Bank Hennery Baye, says banks cannot be blamed.
JOYBUSSINES has also learnt that some traders carry as much 50 thousand dollars for their foreign transactions which is against the country’s foreign exchange laws.
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