File photo of Cedi notes
Currency Analyst, Collins Appiah says the government will not sit aloof for the Ghanaian cedi to hit GH¢18 to the US dollar.
Several financial analysts have projected that the Ghanaian will hit between GHc16 to GHc18 to the dollar.
Banking Consultant, Dr. Richmond Atuahene speaking on GHOne TV stated that though Bloomberg and others are predicting that the cedi to GH¢16 to the dollar he thinks it will be higher.
According to him, the Ghanaians should prepare to trade GH¢18 to the US dollar.
However, speaking on Morning Starr with Francis Abban the Currency analyst has stated that “I am not sure the government will allow that to happen, they will not allow because as an analyst, trust me, we are in an election year. The government will want to do whatever they can to maintain some level of stability to able to go into the elections.
“Yes, when it get to this year, you also get to a lot of frustrations. But if you give yourself within six months. They will still try and do something to seem okay for us to get to the elections,” Mr. Appiah stated.
He added that he cannot predict what will happen after the elections.
- Undisciplined fiscal deficits, loose monetary policies drivers of exchange rate instability - Banking consultant
- 'Cedi depreciation is a ritual problem' - Deputy Finance Minister
- 'My ultimate goal is to stabilize the cedi with gold' – Dr. Bawumia
- You cannot break the eight when the dollar is now at GH¢16 – Traders to Bawumia
- Inflation decline to persist despite currency pressures
- Read all related articles
