Cedi's true value is between GH¢10 and GH¢12 - President Mahama

Read Article

Comments (28)

This article is closed for comments.

Read Comments Comments (28)

JUSTRAC AFRICA LTD 6 months ago

Elevate your online presence with our expert website design services. We create stunning, user-friendly websites that drive results. Business websites, NGO websites, eCommerce websites, etc. Call/WhatsApp: 0501796870. Skslkk ...
read full comment

Elevate your online presence with our expert website design services. We create stunning, user-friendly websites that drive results. Business websites, NGO websites, eCommerce websites, etc. Call/WhatsApp: 0501796870. Skslkkk
prophet mohammed was a sick dog 6 months ago

Qur'an is toilet paper.

Qur'an is toilet paper.
Terrible move Mr President 6 months ago

This statement is very disappointing and distressing from you. For two simple reasons .

Firstly , we operate a floating exchange rate regime in Ghana ; where the rates are solely determined by demand and supply forces. I ...
read full comment

This statement is very disappointing and distressing from you. For two simple reasons .

Firstly , we operate a floating exchange rate regime in Ghana ; where the rates are solely determined by demand and supply forces. In China where they practice a fixed rate regime, the government sets its rates. By this, when the president says he sat with the heads of our fiscal and monetary policy institutions and “determined” what they think the “true value” of the cedi is , it’s very troubling and sends a very dangerous signal to the business and investing world. Are we moving towards a fixed exchange rate regime as a country now? If so, please state so clearly.

Secondly , announcing what you think the average rate will be makes people (businesses and investors and indeed speculators) plan win this figure. It won’t matter to them anymore if the dollar drops to 8 cedis by end of July . They still will make business decisions with that 10 to 12 cedi per dollar rate you mentioned. And with this, the gains that could have been enjoyed will be denied the people.

And lastly Mr President, my observation; are you and your government lying to us??? There’s been a lot of noise about the GOLDBOD and it’s activities and how it’s raking in unprecedented amount of FX in the country through sales. If indeed this is the game changer we all believe it to be (something your government has claimed) why don’t you believe it could be the catalyst for a much stronger cedi? So that our cedi would be much stronger than the 10 to 12 cedis per dollar you believe we would have. For all of the billions of dollars you claim we used to loose as a country? We get all that now, and our cedi may have gained “only” 4cedis against the dollar to close at 11 cedis from 15 cedis ???
Truth 6 months ago

Try to understand the context of what he is saying. The point is, the strength of the cedi is from exports. Currently, we are not exporting much (apart from gold and cocoa) so he is saying the strength of our currency matched ...
read full comment

Try to understand the context of what he is saying. The point is, the strength of the cedi is from exports. Currently, we are not exporting much (apart from gold and cocoa) so he is saying the strength of our currency matched proportionately to our exports is around 10-12ghc. If we use the gold to over strengthen the cedi, the cost of importing rice, frozen foods etc from countries like China will increase and if the gold and or cocoa prices fall, we will be in trouble. Simply put, we have to produce our consumables and export. That will strengthen our economy.
PS. I'm not an economist.
ST Ghfuo: KWAME NKRUMAH INTERNATIONAL AIRPORT 6 months ago

who cares. this is dumb. even if the cedi is 1 to 5 usd who cares. how is this making a difference in the living conditions of the ordinary Ghanaian? still no water, no light, no jobs, no food, no roof, no clothes. sick, hung ...
read full comment

who cares. this is dumb. even if the cedi is 1 to 5 usd who cares. how is this making a difference in the living conditions of the ordinary Ghanaian? still no water, no light, no jobs, no food, no roof, no clothes. sick, hungry, destitute and praying to leave Ghana. is this about currency of the standard of my living conditions, my dignity as a human being? you have ghanaians who were born poor and will die poor. not because they didnt try oo. but because these pigmy dumb gh leaders dont know their aim and objectives.
@Truth 6 months ago

You are not an Economist indeed. Please read on “balance of trade” off the internet. It will enlighten you on some of these things. Peace

You are not an Economist indeed. Please read on “balance of trade” off the internet. It will enlighten you on some of these things. Peace
.mr amin 6 months ago

Mahama is trying to brake his govt this is the second time he is making a negative comment about the cedi appreciation, mr president pls shut up and let the appreciation go on that is what we want, the exportation didn't help ...
read full comment

Mahama is trying to brake his govt this is the second time he is making a negative comment about the cedi appreciation, mr president pls shut up and let the appreciation go on that is what we want, the exportation didn't help us
Ghana 6 months ago

Mahama is something else, he does not like it when Ghanaians are praising him, 80% of Ghanaians are happy to see the cedi reduced to ghc5, same way u did in 2016 and canceled teachers allowance that caused ur presidency..if ...
read full comment

Mahama is something else, he does not like it when Ghanaians are praising him, 80% of Ghanaians are happy to see the cedi reduced to ghc5, same way u did in 2016 and canceled teachers allowance that caused ur presidency..if u think ur time is over and u play careless and npp make a mistake n come to power, u n your ministers are dead, u will be the first former president to stand trial
Helen 6 months ago

We hear you. So the true value of Toyota Vitz will be around Ghc65,000 on the Ghanaian market. That also means, only few people can buy Electric Vehicles. Will there be tax reduction for these EVs? That could help reduce the ...
read full comment

We hear you. So the true value of Toyota Vitz will be around Ghc65,000 on the Ghanaian market. That also means, only few people can buy Electric Vehicles. Will there be tax reduction for these EVs? That could help reduce the amount we spend importing oil.
Kk 6 months ago

Why not be bold to ban things that we produce in Ghana eg. mattresses, even second hand spare parts.

Why not be bold to ban things that we produce in Ghana eg. mattresses, even second hand spare parts.

Hannan 6 months ago

;)) Hot girls are waiting for you on ~~ Hot4.eu

;)) Hot girls are waiting for you on ~~ Hot4.eu
King 6 months ago

This one de3 JM should rethink again!!!! We want the dollar below GH 5 period.Basic economics doesn't apply here kora..With the establishment goldbod and cocoabod....we will have enough reserve to take care of any dollar dema ...
read full comment

This one de3 JM should rethink again!!!! We want the dollar below GH 5 period.Basic economics doesn't apply here kora..With the establishment goldbod and cocoabod....we will have enough reserve to take care of any dollar demands period.
EDDY 6 months ago

The content of the article is false. No where did he make such a claim. Its a false interpretation to his statement by the writer. Stop creating misleading headlines.

The content of the article is false. No where did he make such a claim. Its a false interpretation to his statement by the writer. Stop creating misleading headlines.
Opoku Amsterdam 6 months ago

Eddy,what did Mahama say?Explain to all.

Eddy,what did Mahama say?Explain to all.
Yaw Yeboah 6 months ago

Personally, am hoping the cedi continues to appreciate to single digit figures. As for concerns about exporters even when the cedi was equal in value to the dollar were they not able to trade? Did exports not occur?

Personally, am hoping the cedi continues to appreciate to single digit figures. As for concerns about exporters even when the cedi was equal in value to the dollar were they not able to trade? Did exports not occur?
NO!!! 6 months ago

This is rather an unfortunate statement made by the president. If the cedi appreciates, the living standards of Ghanaians will improve. You rather want the dollar to range between 10 to 12 cedis so that good will be bought at ...
read full comment

This is rather an unfortunate statement made by the president. If the cedi appreciates, the living standards of Ghanaians will improve. You rather want the dollar to range between 10 to 12 cedis so that good will be bought at such a rate or the 4 cedis. Please Mr president don't disappoint Ghanaians, we've suffered enough. Let rhe cedis appreciate to its maximum single digit. The export market will adjust. Does it mean if it begins to appreciate to a single digit,you will stop and make the economy hard to keep it at 10 to 12. Cedis. Don't do this please.
Aba Sam 6 months ago

Don't do this, please Mr. President.

Don't do this, please Mr. President.
Bebe 6 months ago

Mahama today you made me so sad! I now believe that this is all a game. The cedi can go down more yet you prefer that the ordinary ghanaian must suffer because of exporters. I'm disappointed and I regret trusting you.

Mahama today you made me so sad! I now believe that this is all a game. The cedi can go down more yet you prefer that the ordinary ghanaian must suffer because of exporters. I'm disappointed and I regret trusting you.
Bebe 6 months ago

Mahama today you made me so sad! I now believe that this is all a game. The cedi can go appreciate more yet you prefer that the ordinary ghanaian must suffer because of exporters. I'm disappointed and I regret trusting you.

Mahama today you made me so sad! I now believe that this is all a game. The cedi can go appreciate more yet you prefer that the ordinary ghanaian must suffer because of exporters. I'm disappointed and I regret trusting you.
Bebe 6 months ago

Mahama today you made me so sad! I now believe that this is all a game. The cedi can appreciate more yet you prefer that the ordinary ghanaian must suffer because of exporters. I'm disappointed and I regret trusting you.

Mahama today you made me so sad! I now believe that this is all a game. The cedi can appreciate more yet you prefer that the ordinary ghanaian must suffer because of exporters. I'm disappointed and I regret trusting you.

FunnyGhana 6 months ago

Very unfortunate comment by the President. Now no one will reprice below 12 even when cedi is 10 or 8 When the cedi is finding a strengthened level into single digits and then comments like this come it will now rather make ...
read full comment

Very unfortunate comment by the President. Now no one will reprice below 12 even when cedi is 10 or 8 When the cedi is finding a strengthened level into single digits and then comments like this come it will now rather make businesses chase the dollar and no one will price based on where the cedi actually strengthens too. Why do we sabotage ourselves when things are going so well.
Brew 6 months ago

The government doesn't care about the people. I pray the Lord will show Ghana mercy and grant us a leader who will be for the ordinary ghanaian.

The government doesn't care about the people. I pray the Lord will show Ghana mercy and grant us a leader who will be for the ordinary ghanaian.
Relocate Capital of Ghana 6 months ago

Relocate Capital of Ghana

The government needs to collaborate with civil engineers to do a feasibility study to relocate the capital between Amansaman and Koforidua.

- Accra has a high density population.
- Accra is ...
read full comment

Relocate Capital of Ghana

The government needs to collaborate with civil engineers to do a feasibility study to relocate the capital between Amansaman and Koforidua.

- Accra has a high density population.
- Accra is choked with traffic.
- Accra is filthy.
- Accra has high pollution. Too many airborne diseases.
- Accra is prone to earthquake.
- Accra is prone to flashfloods.

The government must exercise its power of eminent domain to acquire all this parcel of land to complete this project.

Ghana should have followed suite, right after Nigeria relocated its capital from Lagos to Abuja in the 90"s.

Senegal, Ivory Coast and Egypt have all relocated its capital city.

Government needs to set aside high budget for infrastructural upgrade and development. This a huge project, but it is worth it. This project needs to ne started within 2 to 5 years, irrespective of which party is in power.

The future is bright for Ghana.

God bless our homeland, Ghana.
ST Ghfuo: KWAME NKRUMAH INTERNATIONAL AIRPORT 6 months ago

a country like switzerland has no natural resources, nothing. but look at their currency, their economy. gh has abundant of resources but the currency is still considerably weaker than swiss, us dollar. why? if i were preside ...
read full comment

a country like switzerland has no natural resources, nothing. but look at their currency, their economy. gh has abundant of resources but the currency is still considerably weaker than swiss, us dollar. why? if i were president my number one goal would be to eliminate poverty amongst my people. even if you dont have a job you deserve to have a roof over your head, food to eat, clothes to wear and some small money to last you month. Gh owes this to its citizens at the very least.
FAS 6 months ago

This is so sad Mr president does that mean bcos of export your people should suffer. Just look at the joy of Ghanaians anytime the cedi appreciate

This is so sad Mr president does that mean bcos of export your people should suffer. Just look at the joy of Ghanaians anytime the cedi appreciate
Wilfred Amoo mensah 6 months ago

Mr President please l disagree with you on this issue at a point in this country your government took the cedi from 1 to nearly four cedis. Unfortunately the previous government did woefully and it got to almost 16 , fortuna ...
read full comment

Mr President please l disagree with you on this issue at a point in this country your government took the cedi from 1 to nearly four cedis. Unfortunately the previous government did woefully and it got to almost 16 , fortunately for you due to an IMF program we are making some gains and for some of us the true value should be around 7-8 cedis. Please allow the cedi to appreciate. # cedis
.mr amin 6 months ago

Mr president why do you talk about the cedi leave that to the ATO and the big if infact an highly disappointed if you if you joke with the cedi your govt will fail

Mr president why do you talk about the cedi leave that to the ATO and the big if infact an highly disappointed if you if you joke with the cedi your govt will fail
Mr. President, No 6 months ago

Please it should be between 7 to 9 cedis to the dollar.

Please it should be between 7 to 9 cedis to the dollar.

28 Comments

Welcome,

SIGN IN

Welcome,

RESET PASSWORD

Hello,

Terms and conditions

REGISTER

Cedi's true value is between GH¢10 and GH¢12 - President Mahama

Read Comments .st0{display:none;fill:#14BDD3;} .st1{display:none;} .st2{display:inline;fill:#FC0F0F;} .st3{display:inline;fill:#FFFFFF;} .st4{display:inline;fill:none;stroke:#000000;stroke-width:6;stroke-miterlimit:10;} Comments (28)

Read Comments Comments (28)