Per the Bank of Ghana (BoG) rates on Monday, March 4, the Cedi is buying at 12.4938 to a Dollar and selling at 12.5063 to one dollar.
With the Great Britain Pounds, it is buying at 15.7646 to a pound and selling at 15.7816.
With the Euro, it buys at 13.5168 to One Euro and sells at 13.5291.
The poor performance of the local currency against the major trading ones raised concerns among stakeholders including the Ghana Union of Traders Association (GUTA).
GUTA’s President, Dr Joseph Obeng, asked the government to immediately work to address the fall of the Cedi.
“When it comes to trading it will surprise you to know that the Chinese, China Town and China Mall and all that have taken about 40% of the market for the trading sector. So, what have we to show again? So, we must start thinking about how we can give the commanding heights as promised by our forefathers to the Ghanaian indigenes.
“And this is one area that we are expecting the government or all other political leaders to start thinking around. Otherwise, the people of Ghana will be disappointed.
“And it doesn’t leave anything also for us because they take the best of it and repatriate to their home countries when we are always crying that we don’t have any foreign exchange, the depreciation,” he told jounalsist in Accra last week.
