Forex market crashes

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Dr. Kwame Osei 10 years ago

this so-called appreciation is a fruad bythe BOG - this is and wil be short lived - the fundamentals of our economy are still weak in the sense of manufaxcturung and agricultural output and the import/export imbalance - until ...
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this so-called appreciation is a fruad bythe BOG - this is and wil be short lived - the fundamentals of our economy are still weak in the sense of manufaxcturung and agricultural output and the import/export imbalance - until this is addresed with concrtee proposals then the cedi will continue to rise and rise and i for one have no confidence in the Governments ability or the BoG ability to address this.
Hassan Rasta Germany 10 years ago

May the Almighty Allah remove the minds of the greedy leaders on our resources so that the moneywe gain from the resources will always remain in the Bank of Ghana to make a good use of it No party can save Ghana is only Alm ...
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May the Almighty Allah remove the minds of the greedy leaders on our resources so that the moneywe gain from the resources will always remain in the Bank of Ghana to make a good use of it No party can save Ghana is only Almighty Allah.
Chawchaw 10 years ago

Why worry then, please continue to bet against the Cedi! My beef against Wampah and his officials at the BoG is that, measures they institute have become too predictable. I hope they follow this smart policy to break these 'l ...
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Why worry then, please continue to bet against the Cedi! My beef against Wampah and his officials at the BoG is that, measures they institute have become too predictable. I hope they follow this smart policy to break these 'little players',would be followed by a determined effort to halt by foreigners - legals and illegals alike - from siphoning precious foreign reserves in suitcases out of the country.
Although, there is the need to re-orient the underlying structures of the Ghanaian economy, nothing should stop the BoG from using a tool most Central Banks across the Globe employ to stabilize their national currencies. Operationalizing the good old 'prophet' Adam Smith`s 'invisible hand' principle is a very smart short-term move. The bank should use this technique/arsenal, in concert with others in is toolbox, to mop up excess liquidity in the system, and to put 'economic saboteurs' off balance!
hajj omar 10 years ago

Its nice to see these but will prices of product go down to that is still a major problem?

Its nice to see these but will prices of product go down to that is still a major problem?
Adjei 10 years ago

1.What is the impact on cedi savings dollar savings by individual depositors.
What is the impact on Cedi denominated loans as some banks have started chasing customers for loans but still at high interest rate.
should you ...
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1.What is the impact on cedi savings dollar savings by individual depositors.
What is the impact on Cedi denominated loans as some banks have started chasing customers for loans but still at high interest rate.
should you move now to sign on to these loans
Discuss
kweku trouble 10 years ago

wHERE ARE THE DOOMSAYERS WHO SAID IT WON'T WORK? CASELEY HAYFORD AND PROFFESOR KWADWO KUSI.

wHERE ARE THE DOOMSAYERS WHO SAID IT WON'T WORK? CASELEY HAYFORD AND PROFFESOR KWADWO KUSI.
LARYEAH 10 years ago

BANK OF GHANA DIRECTORS ARE STUPID AND THEY ARE JUST WASTING GHANA HARD CURRENCY STASH. HOW MANY DAYS CAN THEY CONTINUE TO PUMP $20,000,000 TO THE SYSTEM. $20 MILLION A MONTH AMOUNTS TO $600,000,000. KWEKUVOR OR KWEKUVI JUST ...
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BANK OF GHANA DIRECTORS ARE STUPID AND THEY ARE JUST WASTING GHANA HARD CURRENCY STASH. HOW MANY DAYS CAN THEY CONTINUE TO PUMP $20,000,000 TO THE SYSTEM. $20 MILLION A MONTH AMOUNTS TO $600,000,000. KWEKUVOR OR KWEKUVI JUST ASK YOURSELF, DO WE HAVE SUCH MONEY TO CONTINUE TO USE IT TO STABILIZE THE CEDI?
kweku trouble 10 years ago

Doomsayer Laryeah, coukd you not have made your point without the usual tribal crap associated with your likes? What has kwekuvi or kwekuvor got to do with anything? If one is glad the cedi is making gains, the person must be ...
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Doomsayer Laryeah, coukd you not have made your point without the usual tribal crap associated with your likes? What has kwekuvi or kwekuvor got to do with anything? If one is glad the cedi is making gains, the person must belong to a certain tribe. This clearly shows that your submission is not out of genuine concern for Ghana. It is usual of those group of people who wish everything bad for Ghana simply because their party is not in power. In anycase are you privy to all measures being taken to stem th tide? If even you think it is not sustainable then I guess the managers know better.
LARYEAH 10 years ago

KWEKU SINCERELY I WOULD BOW MY HEAD FOR YOU IF NOT YOUR NAME TROUBLE. TO SAY THE LEAST, YOU HAVE SHAMED ME EXCEPT THAT I HAVE TROUBLE WITH YOUR NAME TROUBLE. 'YOU SURE' YOU WERE NOT LOOKING FOR TROUBLE WHEN YOU SAID YOU WERE ...
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KWEKU SINCERELY I WOULD BOW MY HEAD FOR YOU IF NOT YOUR NAME TROUBLE. TO SAY THE LEAST, YOU HAVE SHAMED ME EXCEPT THAT I HAVE TROUBLE WITH YOUR NAME TROUBLE. 'YOU SURE' YOU WERE NOT LOOKING FOR TROUBLE WHEN YOU SAID YOU WERE KWEKU TROUBLE!
kweku trouble 10 years ago

lol. THAT WAS A NAME GIVEN TO ME IN THE EARLY NINETIES BY MY MATES AT SCHOOL. I AM A MORE PECAFUL PERSON NOW. HAVE A NICEDAY.

lol. THAT WAS A NAME GIVEN TO ME IN THE EARLY NINETIES BY MY MATES AT SCHOOL. I AM A MORE PECAFUL PERSON NOW. HAVE A NICEDAY.

kweku trouble 10 years ago

lol. THAT WAS A NAME GIVEN TO ME IN THE EARLY NINETIES BY MY MATES AT SCHOOL. I AM A MORE PEACEFUL PERSON NOW. HAVE A NICEDAY.

lol. THAT WAS A NAME GIVEN TO ME IN THE EARLY NINETIES BY MY MATES AT SCHOOL. I AM A MORE PEACEFUL PERSON NOW. HAVE A NICEDAY.
Concerned Citizen 10 years ago

Just give it a little time. Common sense tells you you don't get something out of nothing. When you are not producing goods and manufacturing for export, your currency can never appreciate against those of countries that do. ...
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Just give it a little time. Common sense tells you you don't get something out of nothing. When you are not producing goods and manufacturing for export, your currency can never appreciate against those of countries that do. This is a bit like keeping a pyramid scheme going..or like a poor man trying to live beyond his means with his meagre savings in an expensive hotel. Its only a matter of time.
Kweku trouble 10 years ago

For now we are dealing with a demand and supply issue. like I said if you are know all these then the managers definitely know better. Do you think they don't know what you are talking about? Now people are rushing to change ...
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For now we are dealing with a demand and supply issue. like I said if you are know all these then the managers definitely know better. Do you think they don't know what you are talking about? Now people are rushing to change their dollars at the commercial banks. Meaning all those monies still get to stay in the system. Like we say: dem dey take fish catch fish. My layman economics.
kofi abas 10 years ago

any little info always has massive impact on financial mkts. it is very sensitive.bog may not even be pumping said amt. it is the massive amts being released by the hoarders that is making the trick as hoarders are supplying ...
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any little info always has massive impact on financial mkts. it is very sensitive.bog may not even be pumping said amt. it is the massive amts being released by the hoarders that is making the trick as hoarders are supplying instead of demanding as there is no more confi in the $.
kwaku Accra 10 years ago

Dr. wampa why not invest the dollars to gain morè foreign Exchange for the country. Instead. Your mind is killing some people Business. If every yo give Tour wife 20 cedí for market without income, what do think Will happe ...
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Dr. wampa why not invest the dollars to gain morè foreign Exchange for the country. Instead. Your mind is killing some people Business. If every yo give Tour wife 20 cedí for market without income, what do think Will happen in future? A word to a wise ....
Ernest 10 years ago

The BOG has no money to daily inject 20 million dollars into the economy. even if it does it is not enough to plunge the the forex rate into its current rate . The cedis is gaining strength due to the global economy crisis ca ...
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The BOG has no money to daily inject 20 million dollars into the economy. even if it does it is not enough to plunge the the forex rate into its current rate . The cedis is gaining strength due to the global economy crisis caused largely due to Greece liquidity problems .
Adjorlolo 10 years ago

Am inclined to believe that this maybe be a nine day wonder. No corruption should be recorded afterwards. Solve the DUMSOR and increase Export by diversifying export. Resource Agric. Extension Officers well to help farmers pr ...
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Am inclined to believe that this maybe be a nine day wonder. No corruption should be recorded afterwards. Solve the DUMSOR and increase Export by diversifying export. Resource Agric. Extension Officers well to help farmers produce crops which are high in demand abroad.
Loway 10 years ago

Things will increase

Things will increase
Say the Truth 10 years ago

THINGS WILL RURN AROUND AGAIN BY THE END OF JULY AND THE CEDI DEPRECIATION WILL GET WORSE BY THE END OF OCTOBER TO DECEMBER ENDING.

THIS INPUT OF $20 MILLION IS NOT SUSTAINABLE...WHATIS NEEDED IS THE MEDIUM TERM AND LONG T ...
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THINGS WILL RURN AROUND AGAIN BY THE END OF JULY AND THE CEDI DEPRECIATION WILL GET WORSE BY THE END OF OCTOBER TO DECEMBER ENDING.

THIS INPUT OF $20 MILLION IS NOT SUSTAINABLE...WHATIS NEEDED IS THE MEDIUM TERM AND LONG TERM ECCONOMIC STRUCTURAL SUPPORT TO AREAS THAT GHANA HAS AN ADVANTAGE IN VALUE ADDED EXPORT GENERATED INDUSTRIES THAT WOULD GENERATE FOREIGN CURRENCY OR CREATE INTERNAL DEMAND FOR THEM THAT PREVIOUSLY RELIED ON COMPETITIVE IMPORTED GOODS.
Loway 10 years ago

I am with you

I am with you

ghanian 10 years ago

I hope is not 9day wonder,as there are long days ahead of us.

I hope is not 9day wonder,as there are long days ahead of us.
KK 10 years ago

This practice is long overdue to curtail effort of NPP greedy thives nation reckers.BoG Keep up the good work for mather Ghana.

This practice is long overdue to curtail effort of NPP greedy thives nation reckers.BoG Keep up the good work for mather Ghana.
Insight 10 years ago

My God, Ghanaian business people are dummies. How can they be rattled over this? The smartest thing to do is to hold on to your dollars, ride the current storm and cash in at a later time. What is the sense in lining up at a ...
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My God, Ghanaian business people are dummies. How can they be rattled over this? The smartest thing to do is to hold on to your dollars, ride the current storm and cash in at a later time. What is the sense in lining up at a bank to change your dollars into Cedis for keep? Chill out y'all and forgot about this communist way of economic management and media propaganda.
Nana 10 years ago

How sustainable is this?

How sustainable is this?
Ghana ni 10 years ago

it's a good idea, let all help build our mother land, ghana.

it's a good idea, let all help build our mother land, ghana.
Asseytwa 10 years ago

It seems this was done to discourage dollar hoarding. It definitely has positive short-term effects in some aspects of the economy- petroleum product prices for sure and for businesses that traditionally have high foreign cos ...
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It seems this was done to discourage dollar hoarding. It definitely has positive short-term effects in some aspects of the economy- petroleum product prices for sure and for businesses that traditionally have high foreign cost components. Also exporters in the short run might pick up a few more dollars but that depends on the price elasticity. There will be winners and losers. The real impact to me is how significant is the winners or the losers effect on the economy? If I read correctly, the issue of Eurobond, that is not going to look good in the long run because of our debt situation. The most helpful policies will be those that help to boost growth in GDP and and reduce waste through responsible accountability.
sam 10 years ago

the B.O.G SHOULD ALSO MAKE SURE THE PRICES OF ITEMS IN THE MARKET DROP ELSE GHANAIANS WILL NOT BENEFIT FROM THE APPRECIATION OF THE CEDI AGAINST THE MAJOR CURRENCY.IT DOESN'T HAVE TO BE ONLY PRICES OF PETROLEUM PRODUCTS HAVE ...
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the B.O.G SHOULD ALSO MAKE SURE THE PRICES OF ITEMS IN THE MARKET DROP ELSE GHANAIANS WILL NOT BENEFIT FROM THE APPRECIATION OF THE CEDI AGAINST THE MAJOR CURRENCY.IT DOESN'T HAVE TO BE ONLY PRICES OF PETROLEUM PRODUCTS HAVE HAVE TO GO DOWN, IT SHOULD BE MOST MARKET ITEMS.
kofi mensah 10 years ago

Cedi appreciates against major foreign currencies! Another campaign message against government perhaps lost! Provided stability of the local currency can be sustained! God bless my motherland!

Cedi appreciates against major foreign currencies! Another campaign message against government perhaps lost! Provided stability of the local currency can be sustained! God bless my motherland!
KOFI 10 years ago

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PLEASE CALL: 026 471 6238

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Sam-Brooklyn 10 years ago

Kudos, but its sustainability is questionable, hmmmmmm, anyway, we hope for the best.

Kudos, but its sustainability is questionable, hmmmmmm, anyway, we hope for the best.

Concerned Citizen 10 years ago

A poor man can fool you by riding in a Rolls Royce for a day or two but he will soon find his own level.
Until Ghana becomes established in manufacturig and exporting goods and services, the Cedi will never make sustained ga ...
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A poor man can fool you by riding in a Rolls Royce for a day or two but he will soon find his own level.
Until Ghana becomes established in manufacturig and exporting goods and services, the Cedi will never make sustained gains against currencies of exporting countries.
joe 10 years ago

SHOULD BE A NORM TO GO TO THE BANKS TO BUY AND SELL.

SHOULD BE A NORM TO GO TO THE BANKS TO BUY AND SELL.
jeo 10 years ago

I am enjoying this specter. Those hoarding the dollars are just nation wreckers. In the western world these activities are streamlined to the extent that there are heavy prison terms for such activity (hoarding of currency). ...
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I am enjoying this specter. Those hoarding the dollars are just nation wreckers. In the western world these activities are streamlined to the extent that there are heavy prison terms for such activity (hoarding of currency). In the UK, you cannot take £10000 cash out of the country. If you try, the dogs at immigration will detect it and if not careful, it will be confiscated. That is how strict the financial system is. If we want to develop, we should not be selfish and blame the government only. We have to look at yourselfs only. I remember in the bank in the UK not too long ago a guys brought in over £4000 cash to save. He had to declare where he got the money from. Although it was informal, he actually had to do that else the police can be called on him. What about Ghana, someone can carry a suitcase of local and foreign money around and expects no one to question him or her. It does not happen here. The authorities will make your life uncomfortable in terms of investigating your tax affairs and so on. The government should send mystery shoppers to the hotels and boutiques to try and buy goods and services in dollars and arrest anyone who trades in dollars. This should be unannounced. I know some people will start to make noise but it is for the good of the country. If you want to transact business in foreign currency, use the banks. What we do in Ghana is unacceptable. Folks you cannot do that in India use Rupees. Even in India you do not see so many forex bureaus like you do in Ghana. I know this for sure because I know a Kamacan business man who traveled to India to do business recently. Also in South Korea, Malaysia and so on. For Malaysia if you try that something else befalls you. LETS TRY TO BUILD THE COUNTRY TOGETHER AND NOT BE GREEDY.
What i want the BOG to do is to make this policy intermittent whereby speculators can not predict what is going to happen and in so doing, they will start to invest the money instead of sitting on it to cream of the gains.
A J 10 years ago

I agree with u . Ghanaians are also the cause if the depreciation.

I agree with u . Ghanaians are also the cause if the depreciation.
kofi 10 years ago

BOG is sellin US-Dollars. For what and to whom? Where does this money come from and where is the profit? Fine, the cedi is strong, but U can´t buy anythin. The prices are not fallin. BOG´s t-bills remain unchanged on 25%. T ...
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BOG is sellin US-Dollars. For what and to whom? Where does this money come from and where is the profit? Fine, the cedi is strong, but U can´t buy anythin. The prices are not fallin. BOG´s t-bills remain unchanged on 25%. Those who are havin money get more and more. They suck the country. Cocoa, oil, timber, gold all our assets sold out for good and for the ruling establishment. Free Ghana.
Plasma Kote 10 years ago

No verifiable facts

No verifiable facts
Antwerpen 10 years ago

In the long term the "law of gravity" dictates that the cedi continues to devaluate. The Bank of Ghana is putting the wagon in front of the horse, thereby hurting exports, promoting imports, and killing tourism.

In the long term the "law of gravity" dictates that the cedi continues to devaluate. The Bank of Ghana is putting the wagon in front of the horse, thereby hurting exports, promoting imports, and killing tourism.
Hannibal 10 years ago

NATION WRECKERS... CONTINUE TO HOARD THE DOLLAR.

NATION WRECKERS... CONTINUE TO HOARD THE DOLLAR.
PROFESSOR THOMAS KUBI- McA 10 years ago

THE NEXT GOV=NPP WILL
REFORM & INTRODUCE ECOWAS KNOWLEDGE
BANK
=======================================
AFRIKA MONETARY UNION
======================================
PROFESSOR THOMAS KUBI( FOUNDER)
...
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THE NEXT GOV=NPP WILL
REFORM & INTRODUCE ECOWAS KNOWLEDGE
BANK
=======================================
AFRIKA MONETARY UNION
======================================
PROFESSOR THOMAS KUBI( FOUNDER)
McA INTERNATIONAL CONSULTANTS
A J 10 years ago

Ghanaians are their own enemies.Some greedy crooks have bought dollars with the hope that the cedi will continue to depreciate so they can make money. These are the people who pray everyday for the cedi to fall and turn aroun ...
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Ghanaians are their own enemies.Some greedy crooks have bought dollars with the hope that the cedi will continue to depreciate so they can make money. These are the people who pray everyday for the cedi to fall and turn around to insult politicians. The cedi would continue to rise against the dollar so the crooks will learn not to be greedy and find other credible means of making money

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Forex market crashes

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