US dollar crosses GH ¢3.00

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• KANAWU 11 years ago

  THEY WON'T LISTEN TO ANYBODY. WE NEED SOMEONE LIKE THE OLD JJ RAWLINGS TO HELP US.

  THEY WON'T LISTEN TO ANYBODY. WE NEED SOMEONE LIKE THE OLD JJ RAWLINGS TO HELP US.

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• Blue Hawaii 11 years ago

  The figures denoting the depreciation of GHS against USD do not take into account the fact that the USD is also depreciating. It's much worse than it looks.

  The figures denoting the depreciation of GHS against USD do not take into account the fact that the USD is also depreciating. It's much worse than it looks.

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• KT 11 years ago

  BRAIN DEAD MAHAMA MUST LEAVE

  BRAIN DEAD MAHAMA MUST LEAVE

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• ABDULKHALEED ABOOBAKER 11 years ago

  At this moment Ghana needs an emergence of the new West African common currency as quickly as possible. No other currencies in the sub-region is deteroriating as fast as the cedi is doing. The Nigerian Naira has been the most ...
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  At this moment Ghana needs an emergence of the new West African common currency as quickly as possible. No other currencies in the sub-region is deteroriating as fast as the cedi is doing. The Nigerian Naira has been the most stable hovering in the last two years between 16,000 to 17,000 Naira per hundred dollar and has not gone beyond the upper 17,000. As at today the Naira to Cedis is almost double the rate it used to be late last year in the open market.
  Ghana needs the Nigerian economy to help stabilise the fast deteroriating currency in Ghana if the new "Eco" is reslised and introduced as fast as possible. The German economy is helping to stabilise the Euro among the European Euro currency users. The solution as it appears now is an external support from the bigger neighbouring economies like Nigeria. Nigeria despite sll its problems recently manages to maintain the value of its Naira.

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• Darling boy 11 years ago

  So mr aboobakar u are proud of Naira 17,000 to one US dollar.i don't know yr age,but was 1= 1 in late 70& 80.same Ghc was when current was reconvert at npp govt in power,if presd mahama will continue play won tie obi a music ...
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  So mr aboobakar u are proud of Naira 17,000 to one US dollar.i don't know yr age,but was 1= 1 in late 70& 80.same Ghc was when current was reconvert at npp govt in power,if presd mahama will continue play won tie obi a music our cedi will be soon17,000 Ghc= 1us dollar soon.mark it on the wall.

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• ABDULKHALEED ABOOBAKER 11 years ago

  Mr Darling Boy, pls don't get me wrong here. Nigerian resisted the attempt to redenominate the Naira as NPP did few years back, that not withstanding every currency in the world is a measure of value and Naira though some 20- ...
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  Mr Darling Boy, pls don't get me wrong here. Nigerian resisted the attempt to redenominate the Naira as NPP did few years back, that not withstanding every currency in the world is a measure of value and Naira though some 20-30 years ago was 1=1 to the dollar, the strengh and value of Naira today at 17,000 to the dollar is by far stronger than the redenominated GHc. in terms of measure of value. As the two currencies stand today if the Naira were also denominated the ratio to the GHc will be 1.7 naira to GHc 3.0, so my brother Darling Boy the issues at stake here is not about self pride or unnecessary partriotism, its about the survival of the ailing and collapsing economy. Darling Boy, Go ask the numerous Ghanaian traders who travel to Lagos for goods and they'll tell you the Naira currency is not about numerals but the value of goods the two currencies can buy on the international market when put side by side.

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• Blue Hawaii 11 years ago

  Read it more carefully sweetie. He quoted Naira 17K against USD 100.

  Read it more carefully sweetie. He quoted Naira 17K against USD 100.

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• pat 11 years ago

  Mahama and his NDC are killing your good cedi oh

  Mahama and his NDC are killing your good cedi oh

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• JoJo - USA 11 years ago

  The CHINESE will wish to have their currency Devalued like Ghana. They are ready to massively Export.
  Deterioration of the Cedi to the US Dollar is good for the Country. The problem is.. we are not producing anything locall ...
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  The CHINESE will wish to have their currency Devalued like Ghana. They are ready to massively Export.
  Deterioration of the Cedi to the US Dollar is good for the Country. The problem is.. we are not producing anything locally. And if we did, the imported content is very high which increases cost of production. Our products are inferior in quality due to poor technical knowledge and managerial incompetence of our people. So we cannot compete in the world market. Every Ghanaian is Speaking against this.
  No CONTRARIAN voice is heard in this debate. WE NEED TO EXPORT MORE. WE HAVE BETTER COMPETITIVE ADVANTAGE WITH A DEVALUED CURRENCY.

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• Say the TRUTH 11 years ago

  U GUYS AND THE VP ARE ALL LOST WITH THIS THEORY OF DEVALUED CEDI TO OUR ADVANTAGE AS OUR EXPORTS WILL BE CHEAPER!! THE QUESTION IS WHICH EXPORT ARE U GUYS TALKING OF...COCOA...OF WHICH PRODUCTION CANNOT BE INCREASED DUE TO MO ...
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  U GUYS AND THE VP ARE ALL LOST WITH THIS THEORY OF DEVALUED CEDI TO OUR ADVANTAGE AS OUR EXPORTS WILL BE CHEAPER!! THE QUESTION IS WHICH EXPORT ARE U GUYS TALKING OF...COCOA...OF WHICH PRODUCTION CANNOT BE INCREASED DUE TO MORE DEMAND BUT IT DEPENDS ON ANNUAL HARVEST AS WELL AS THE CURTAILING OF SMUGGLING TO COTE'DIVOIRE (RIGHT NOW IS ON THE INCREASE DUE TO BETTER RATE OF EXCHANGE OF THE CFA IN RELATION TO CEDI SUCH THAT GHANAIAN FARMERS OUR TEMPTED TO SMUGGLE TO IVORY COAST TO EARN MORE!!!
  
  SO WHERE WILL YOUR THEORY WORK...TELL ME IN OUR ENVIRONMENT WHERE THERE IS NO MANUFACTURING INDUSTRY...THOSE EXISTING DEPENDING ON IMPORTED RAW & ADD ON MATERIALS....WHICH GET AFFECTED WITH DEPRECIATED CEDI CAUSING HIGHER COST OF PRODUCTION!!!

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• JoJo (USA) 11 years ago

  AMAZING!!! Say the TRUTH.
  WE ARRIVED AT THE SAME CONCLUSION. SADLY YOU SAW IT FROM A DIFFERENT PERSPECTIVE.
  1) THOSE EXISTING MANUFACTURING INDUSTRIES DEPEND HEAVILY ON IMPORTED REW-MATERIAL (IN MOST CASES EVEN IF THEY CAN ...
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  AMAZING!!! Say the TRUTH.
  WE ARRIVED AT THE SAME CONCLUSION. SADLY YOU SAW IT FROM A DIFFERENT PERSPECTIVE.
  1) THOSE EXISTING MANUFACTURING INDUSTRIES DEPEND HEAVILY ON IMPORTED REW-MATERIAL (IN MOST CASES EVEN IF THEY CAN OBTAIN IT LOCALLY)
  2) WHITE CHALK IS MADE OF LIMESTONE OF WHICH WE HAVE IN GHANA YET WE IMPORT FROM CHINA.
  3) WE HAVE RICE IN THE NORTHERN GHANA YET 80% IMPORTED.
  4) MANUFACTURING INDUSTRY RELY HEAVILY ON EDUCATED WORKFORCE. EVEN THOSE IMPORTED MACHINERY HAS TO BE MAINTAINED, TROUBLE-SHOOT, AND SERVICED FROM TIME TO TIME. I BOUGHT A BAR OF CHOCOLATE LAST WEEK WITH GHANA LABEL ON IT YET IT WAS MANUFACTURE IN SOUTH KOREA. WHY?
  THE SCIENCE AND RESEARCH THAT GOES INTO SUCH PRODUCTION IS UNMARCHED BY GHANA. EVEN THE PARTS PER MILLION/HOUR THAT WILL EVEN BRING DOWN THE COST PER UNIT IS DEPLORABLE IN OUR SITUATION.
  IF WE ADDRESS THESE ISSUES WE SHALL BE HAPPY WITH A DEVALUED CURRENCY.
  THE TRADE WAR BETWEEN THE USA AND CHINA IS BECAUSE THE CHINESE ARTIFICIALLY DEVALUE THEIR CURRENCY.

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• Kwaame 11 years ago

  So what do you do? Build cars and export to the USA? That NEF at Senchi was very useless and I am really appalled at minds leading my fatherland. If the government pays competitive prices to our cocoa farmers and not retain m ...
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  So what do you do? Build cars and export to the USA? That NEF at Senchi was very useless and I am really appalled at minds leading my fatherland. If the government pays competitive prices to our cocoa farmers and not retain more to pay to those Cocobod (whatever) executives farmers will be incentivised to care for their farms. Government should seek foreign investments that will create jobs for the ordinary person. For example, embark on a north-south, east-west fast train build up through a build-operate-and transfer. There will a transfer of technology, expertise, job creation during the build up phase, etc. We need actionable proposals to move us forward. It is not about the cedi falling but about the minds leading the nation.

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• Kwaame 11 years ago

  It seems the ignoramuses who import are vouching for a stronger currency. They do not understand the FACT that ours is an export-based economy, so a weaker currency works to our advantage. We should just get our fiscal situat ...
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  It seems the ignoramuses who import are vouching for a stronger currency. They do not understand the FACT that ours is an export-based economy, so a weaker currency works to our advantage. We should just get our fiscal situation in order (small government, etc), curb unnecessary government spending, create a conducive environment for businesses and investment, export more, encourage intra-Africa trade and we can see foreign investors revising up their views about the Ghanaian economy and hence demanding more of our cedis. At the moment the debate has been hijacked by these Lebanese and Syrian importers who just want to buy and sell and some locals connected to the political fools.

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• mr amin 11 years ago

  There is too much speculation about the eate of the cedi, everybody quotes what he lijes, who is inter bank n how do they arrive at their figures. people are manupulating the cedi to their advanage. BoG should tell us how do ...
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  There is too much speculation about the eate of the cedi, everybody quotes what he lijes, who is inter bank n how do they arrive at their figures. people are manupulating the cedi to their advanage. BoG should tell us how do they arrive at the figures. govt should sit up before cedi fall brings the govt down.

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• TRUTH 11 years ago

  The dollar is rubbish.It is not the most valuable currency in the world.Even the Libyan dinar is far stronger a currency than the dollar which is always being churned out to finance US government projects and services.

  The dollar is rubbish.It is not the most valuable currency in the world.Even the Libyan dinar is far stronger a currency than the dollar which is always being churned out to finance US government projects and services.

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• Hugo 11 years ago

  If every transaction in the country has to be conducted in CEDIS, then why is government allowing goods in the DUTY FREE SHOPS at the airport being sold in DOLLARS - if I may ask.
  A box of GOLDEN TREE CHOCOLATE costs $36 wh ...
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  If every transaction in the country has to be conducted in CEDIS, then why is government allowing goods in the DUTY FREE SHOPS at the airport being sold in DOLLARS - if I may ask.
  A box of GOLDEN TREE CHOCOLATE costs $36 when you can buy a pack for GHC 3.00 making a box of ten a total of GHC 30.00 , Also a lousy looking pastry at the cafeteria at the departure lounge costs 4 DOLLARS. Why would you sell these things in DOLLARS when the departing crowd have residual local currency on them they want to get rid off before they depart. This is a total NO BRAINER indeed.

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• TORONTO PANIN 11 years ago

  Our leaders and economists have no brain to solve this terrible economic situation facing Ghana.The advise given by Dr. Bawumia is rubbish and meaningless since big business like hotels owned by big ghanaian men who are poli ...
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  Our leaders and economists have no brain to solve this terrible economic situation facing Ghana.The advise given by Dr. Bawumia is rubbish and meaningless since big business like hotels owned by big ghanaian men who are politicians,charge in dollars.
  The rise and speedy rise in import duties is the cause the ghana's socio-economic problems.The government also charges im.port duties in dollars since these duties is based on prevailing dollar rate
  Ghana is a lost nation since our economists can't shift their minds from text books to pratical thinking
  Thousands time thousands Phd in economics holders yet we are in terrible mess.......Dr.Kwame Nkruma when are you coming back to rescue Ghana...............?Please ,ask Nana Akufo-Addo if he has a plan for us..thank you.

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• Rockson 11 years ago

  The pegging of the cedi to a Dollar without adequate exports by Ghana to stock up the foreign reserves will deplete the reserve and the country will be unable to honor its financial obligations. Floating the currency on the o ...
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  The pegging of the cedi to a Dollar without adequate exports by Ghana to stock up the foreign reserves will deplete the reserve and the country will be unable to honor its financial obligations. Floating the currency on the other hand will push the Dollar to the roof due to our insatiable demand for foreign goods from chewing sticks to brooms. The only fix is to encourage industrialization and add value to local produce to boost exports. Government pool of capital to assist entrepreneurs with sound business plans can be the starting point(Not for politicians and their cronies)since bank loans carry exorbitant interest rates.

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• Prince Nkrumah 11 years ago

  You guys are absolute idiots - it crossed the 3.0 threshold WEEKS ago!!

  You guys are absolute idiots - it crossed the 3.0 threshold WEEKS ago!!

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• Gj 11 years ago

  very soon 1 GHC= 1Dudai Dollar

  very soon 1 GHC= 1Dudai Dollar

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• John 11 years ago

  And yet the US government tells the people that the dollar is worthless. The US government is destroying itself intentionally, to end with complete CONTROL over the people, when this happens they then MOVE to complete world d ...
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  And yet the US government tells the people that the dollar is worthless. The US government is destroying itself intentionally, to end with complete CONTROL over the people, when this happens they then MOVE to complete world domination with ALL other world governments. Make no mistake ALL the planets governments ARE CORRUPT and ARE seeking a ONE WORLD Government and that means ENSLAVEMENT of ALL lower classes.
  
  It's NOT Christians that you should fear it's EVERY GOVERNMENT ON THE PLANET. A REAL Christian will show kindness and if they don't, then they ARE NOT what they claim to be.

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