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
-
You’ve got no power to impose fines on us – ECG board members to PURC
11 mins -
Ghana to host Ghana-Cote d’Ivoire Cocoa Initiative Headquarters
21 mins -
Olympism365: IOC, WHO and PATH hold stakeholder engagement in Ghana
23 mins -
War can devastate nation, let’s be thankful for the peace we have – Kofi Sarpong
31 mins -
Ghanaian athletes in Côte D’voire for U-20 Championship
51 mins -
Made in Taadi must happen this year by hook or crook – Kofi Kinaata
1 hour -
Labour unions contemplate May 2 strike over unpaid Tier-2 pension dues
1 hour -
Sedina Tamakloe’s arrest: MoF, MASLOC board can’t be left off the hook – Analyst
1 hour -
Three JHS boys arrested for allegedly gang-defiling 15-year-old colleague
1 hour -
Today’s front pages: Friday, April 19, 2024
2 hours -
Magnus RexDanquah : ‘Breaking the Eight’ – The Greatest Scam Ever since Ackah Blay Miezah’s Gold Deposits claim
2 hours -
You cannot advise a fool – Kofi Kinaata
3 hours -
9-month-old baby dead after father bathed her and mother in acid
4 hours -
Female suspect detained for alleged baby theft in Walewale
4 hours -
Christopher Adu Boahen to be buried on April 25
5 hours