The Ghana Cedi is under pressure again, with the US dollar now at 11.6 Ghana Cedis in the retail market. This means it takes more Cedis to buy one dollar, which is not good news for the economy.
When the National Democratic Congress (NDC) came back to power, the Cedi was stronger, going from 17 Cedis per dollar down to 10 Cedis. But now, the dollar has climbed back up to 11.6 Cedis.
This change shows that the Cedi is losing value again. Experts say this could make imports more expensive and might lead to inflation. The NDC lifting the Cedi slightly when they returned to power was a good sign, but now the Cedi is weakening again.
Ghana's economy is facing challenges, and this latest change in exchange rate adds to those challenges. The government and economists will need to figure out ways to stabilize the Cedi and keep the economy strong.
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