Yayra Koku, the Acting Executive Secretary of the National Identification Authority (NIA) has quizzed persons claiming the Ghanaian cedi is only appreciating because of the USA trade war.
According to Yayra Koku, if the Ghanaian cedi is appreciating because of the USA trade war, why is the Naira depreciating?
He further quizzed whether the USA trade war was not affecting the Naira.
In a post on X Yayra Koku wrote, “If the Ghana Cedi is appreciating against the Dollar because of USA Trade war, why is the Naira depreciating against the Dollar? Or they are not affected by the USA trade war? I’m confused”.
The Ghana cedis continues to record marginal gains against major trading currencies, particularly the US dollar.
As of May 8, 2025, the cedi is trading at GH¢13.4 to the dollar.
Dr Cassiel Ato Forson, the Minister for Finance has stated the recent cedi appreciation is not a nine-day wonder.
According to the Finance minister, the cedi appreciation will be sustained.
Ato Forson is quoted by JOY NEWS to have said, “Cedi’s appreciation not a ‘nine-day wonder’; it will be sustained”.
The finance minister also called on businesses to reflect their pricing as the cedi improves for Ghanaians to truly feel the recovery.
He stated, “ We are seeing improvements in the cedi. It’s time for businesses to reflect this in their pricing. GUTA should support this effort so Ghanaians can truly feel the recovery”.
The Ghana Union of Traders’ Associations (GUTA) has praised the Bank of Ghana for restoring confidence in the Ghanaian cedi.
In a statement signed by GUTA President Dr Joseph Obeng and Head of its Business and Economic Bureau, Charles Kusi Appiah Kubi, the Association stated, “This has brought hope to the business community in recouping some of the lost capital during the last couple of years,”
“Importantly, it has also brought a positive speculation and predictability around the foreign exchange space, thereby eroding the notion that the foreign currency is a store of value in the Ghanaian community.”
GUTA further urged the authorities to “sustain these prudent measures”.
The added cedi gain if maintained, could help the country “achieve full economic recovery, make businesses competitive, increase productivity, and alleviate the high cost of living.”
Meanwhile, Alexander Afenyo Markin the Minority Leader in Parliament has stated the Ghanaian cedi is stable because the Mahama government since assuming office have not been spending.
According to Afenyo Markin, the cedi is stable not because the finance minister Dr Cassiel Ato Forson is doing anything special.
He asserted that contractors are not being paid, it is because there is no liquid circulating in the economy.
See the post below:
If the Ghana Cedi is appreciating against the Dollar because of USA Trade war, why is the Naira depreciating against the Dollar? Or they are not affected by the USA trade war?
I’m confused. pic.twitter.com/0X2fd8eksp
— Yayra Koku (@YayraKoku) May 8, 2025
