US$1 would have been GH¢50, if NPP was not in power - Carlos Ahenkorah

Carlos Kingsley Ahenkorah, Member of Parliament for the Tema West constituency, has stated that the government deserves commendation for its efforts to curb the current depreciation of the cedi against the dollar.

According to Ahenkorah, the exchange rate would have been GH¢50.00 to 1 dollar if the National Democratic Congress (NDC) were in power.

Speaking during a discussion on UTV, Ahenkorah remarked, “With this dollar issue, I said that if not for the fact that NPP was in power, by now the dollar would have been GH¢50.00 against the 1 dollar. This is because of the policy put in place by this government for the demand for the dollar to be this way, especially Gold for Oil. We would wish it was lower, but with the deterioration of 14 percent, it is far better than that of the NDC government.”

As of May 27, 2024, the Interbank forex rates from the Bank of Ghana indicate that the Ghana cedi is trading against the dollar at a buying price of 13.9480 and a selling price of 13.9620.

At a forex bureau in Accra, the dollar is being bought at a rate of 14.80 and sold at 15.00.

Against the Pound Sterling, the cedi is trading at a buying price of 17.7712 and a selling price of 17.7904.

In forex bureaus in Accra, the pound sterling is being bought at a rate of 19.00 and sold at 19.70.

The Euro is trading at a buying price of 15.1360 and a selling price of 15.1498.

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