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Cedi depreciation: Check what Ghanaians are saying about it

By Justice Kofi Bimpeh
Social media reaction to the Cedi depreciation

Most Ghanaians are not happy about the further depreciation of the Cedi, which is making the cost of doing business currently very high.

Some Ghanaians have taken to social media to register their displeasure with the current state of the cedi against major trading currencies.

The cedi since January this year has seen about 2.4 per cent depreciation reducing in value against the dollar from 4 cedis 90 pesewas to 5 cedis 10 pesewas.

The decline in the value of the currency is beginning to have a negative impact on traders, particularly importers. In the second week of January this year, the cedi begun experiencing some depreciation.

Read also: Cedi depreciation: Gov't must act now-Spare parts dealers

Initially, some observers attributed the development to a slight increase in the demand for the dollar by importers who wanted to restock their wares after depleting their stock it during the festive season in December.

Read also: BoG rules out fixed exchange rate regime to check cedi fall

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