The Speaker of Parliament Right Honourable Alban S.K. Bagbin has said it is a big relief the Ghana cedi is surging in value against almost all other currencies in the world.
Speaker Bagbin noted that with the cedi appreciating Ghana’s economy can be a favourite investment destination.
In a Facebook post, Speaker Bagbin wrote, “It is a big relief as the Ghana cedi is surging in value against almost all other currencies in the world and becoming competitive again. With this, Ghana’s economy can be a favourite investment destination”.
It is refreshing that cross-border traders are already saving on the upward surge in the value. For the first time in a long while, traders have room to review the prices of their goods and services downward and people are more willing to invoice and receive payments in cedis. This, coupled with competitive tendencies will make the gains in the cedi soon reflect on the general prices of goods and services for the benefit of all Ghanaians”, he added.
He further noted, “Inspiringly, these are only a few months in the reset agenda. Let’s keep pushing to make Ghana and Africa great!”
Speaker Bagbin’s post comes on the back of a Bloomberg report implying that the Ghana cedi has been the best-performing currency globally against the US dollar.
According to Bloomberg reports the Ghana cedi has appreciated since the beginning of April, appreciating by a remarkable 16%.
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”.
As of May 9, 2025, the cedi is trading at GH¢13.1 to the dollar.
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