Even though the Cedi is reported to have been the worst-performing currency on the African continent this year, some “fans” have taken to Twitter to speak highly of the currency in relation to its performance against the dollar and other major trading currencies in the world.
The sudden words of affirmation for the Cedi come after President Akufo-Addo warned the public against speculations about the local currency during his address to the nation on Sunday.
He said the speculations have contributed to the consistent depreciation in the value of the Cedi in recent times, partly because “sika mpɛ dede,” which means ‘money does not like noise,’ in Twi.
The President added that if one speaks ill of their money or currency, it will cause its value to slump.
He also urged the public to desist from spewing speculation about the Cedi.
He further cautioned the public that the government will now deal with persons who publicize false information regarding the local currency.
Heeding the President’s advice, some Ghanaians on Twitter expressed their love and adoration for the cedi.
One Twitter user said the cedi is the best currency ever.
Another user offered some words of encouragement to the cedi in its fight against the dollar.
Another user also urged Ghanaians to take very good care of the cedi, for it possesses “power and influence.”
A few hours after the President’s address, followed by the words of affirmation to the cedi from some citizens, the currency’s rate of depreciation slowed down.
But, is it feasible for the Cedi to end 2022 at GHS 7.03 to a dollar, as projected by the Center for Economics, Finance and Inequality Studies in January 2022? Only time will tell.
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