Cedi appreciation Archives

23 Mar

Finance Minister’s Target Of Getting Cedi To Gh8 Will Materialise- Alhaji Yusif Fofana

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Government spokesperson on social services, Alhaji Yusif Fofana, has assured Ghanaians that Finance Minister, Ken Ofori-Atta's intention of stabilizing the cedi will become a reality. Speaking in an interview on Movement In The Morning, with Kwaku Dawuro, on Movement TV/Wontumi radio, Alhaji Fofana commended the government for working hard and putting in extra effort towards making the cedi steady. He said this as part of the many achievements made by the Financial Minister, Ken Ofori-Atta under the President Akuffo Addo led government. He asserted that ''We are on the right path to breaking the 8, as we are focused on…

22 Dec

Cedi Gains On Steve Hanke’s Currency Watchlist After Moving To 14th Place From 15th

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The Ghana Cedi has moved from the 15th position it occupied on the Hanke’s Currency Watchlist to 14th on Tuesday December 20. The Johns Hopkins Professor Steve Hanke indicated that by his calculations, the Cedi depreciated 31.17% against the United States Dollar since January 2022, “which is why #Ghana is in 14th place in this week’s Hanke’s #CurrencyWatchlist. Thanks to Pres. Akufo-Addo, Ghana is in an economic death spiral.” https://twitter.com/steve_hanke/status/1605284401566437382?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1605284401566437382%7Ctwgr%5E44bacb37ff9e9c931e1a2509dcd42e896766de1b%7Ctwcon%5Es1_&ref_url=https%3A%2F%2F3news.com%2Fcedi-gains-on-steve-hankes-currency-watchlist-after-moving-to-14th-place-from-15th%2F He previously placed Cedi15th among a list of nineteen performing currencies. “By my calculations, the Ghanaian Cedi has depreciated 34.17% against the USD since Jan. 2020, which is why Ghana is in…

19 Dec

The Economy Is Bouncing Back Due To Good Leadership Of The NPP- Daniel Nkrumah

wontumionlineFeatured, News, TrendingCedi appreciation, Daniel Nkrumah, Economy

The first vice chairman of the ruling New Patriotic Party (NPP), for Okaikoi South constituency, Daniel Nkrumah has stated that the leadership of the Akufo-Addo led administration is bent on ensuring the economy bounces back to normalcy, hence, the reason the cedi has begun appreciating against the dollar. "The NPP was really criticized and chastised during the depreciation of the cedi- for which others mocked us with our mantra of breaking the-eight-year cycle", he spoke on Movement in the morning on Wontumi Radio/Movement TV. "Many traders were inflating the prices of their wares but turn to blame the government- as…

19 Dec

Cedi Appreciation Did Not Happen By Chance – Akufo-Addo

wontumionlineBusinessBoG, Cedi appreciation, President Akuffo Addo

President Nana Addo Dankwa Akufo-Addo has indicated that the Cedi’s appreciation against the US Dollar is as a result of the measures taken by his government in partnership with the central bank, the Bank of Ghana (BoG). Mr Akufo-Addo said the appreciation did not happen by chance. Speaking at the centenary celebration of the Ga presbytery of the Presbyterian Church of Ghana in Accra on Sunday December 18, he said “At the height of our challenges there were some who doubted the capabilities of my government and I to return our nation back onto the path of progress and and prosperity and lift us…

19 Dec

Cedi: Govt Will Continue To Work Hard To Sustain Gains – Akufo-Addo

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The government will continue with the implementation of the programmes that have resulted in the strengthening of the Cedi and other economic indicators, President Nana Addo Dankwa Akufo-Addo has said. The Cedi has over the past few days, especially since the start of December 2022, been gaining strength against the major trading currencies particularly, the Dollar. Per the Bank of Ghana (BoG) rate, the Cedi, as of Thursday December 15, was buying at GHS7.9975 to a Dollar and and selling at GHS8.0056 to a Dollar. https://twitter.com/thebankofghana/status/1603652991269085185?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1603652991269085185%7Ctwgr%5E70c8e53768d6899767d20dd693e553daa7282dc4%7Ctwcon%5Es1_&ref_url=https%3A%2F%2F3news.com%2Fcedi-govt-will-continue-to-work-hard-to-sustain-gains-akufo-addo%2F Analysts including the Director of Research at the Institute of Economic Affairs (IEA) Dr John…

12 Dec

Cedi Gaining, Fuel Prices Coming Down; The Govt Is Working – Owusu-Bempah

wontumionlineBusinessCEDI, Cedi appreciation, fuel prices

The Akufo-Addo administration is working around the clock to ameliorate the economic conditions Ghanaians are saddled with at the moment, a Deputy Communications Director of the New Patriotic Party (NPP) Ernest Owusu-Bempah has said. He noted that the efforts of the government have resulted in the Cedi gaining against the Dollar and drop in fuel prices. Addressing the press in Accra on Friday December 9, to react to the lost censure motion that was filed by the Minority for the removal of the Finance Minister Ken Ofori-Atta, Mr Owusu-Bempah said the government acknowledges the economic challenges Ghanaians are going through. “The…

26 Oct

Cedi Appreciating Against The Dollar – Forex Bureau Association

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The President of the Forex Bureau Association of Ghana, K. T. Dadzie, has disclosed that the exchange rates have reacted positively, with an appreciation of the Cedi, following ongoing engagements between government and key stakeholders. According to him, whilst it has not been easy for Forex Operators, their customers and the nation, during these past three months of forex turbulence, the cedi, since government’s direct interventions, has appreciated significantly against the dollar. He said, this means that, the situation with the rates spiraling out of control is not in any way a natural course of action, but the deliberate efforts…