Aflao apprehensive of transacting business with new currency

Aflao, July 04, GNA - People mainly traders and commuters in and around Aflao are apprehensive of transacting business with the new Ghana cedi introduced last Tuesday, July 3.

Food vendors, hawkers and petty traders said they needed time to understand the conversion chart to enable them confidently accept the new currency.

Ghana News Agency witnessed a heated argument between a staff of Darrah Forex Bureau and an official of Bank of Ghana over what the official said were attempts by the Bureau to frustrate circulation of the new currency.

The official who declined to give her name told GNA that staff of the Bureau allegedly refused to accept the new coins from a customer who wanted to change them into CFA Franc and also increased the rate of the new cedi to the CFA when she offered some of the new notes for CFA Franc.

She said the matter would be reported to Bank of Ghana for appropriate action against the Bureau.

Mr Lemuel Penuku, a staff of the Bureau, however said their refusal to accept the coins was only a business action since some traders who were given the coins in exchange for monies they brought returned them saying they were not conversant with them.

Mr Reuben Akamah, a currency dealer said the new notes and coins were trickling into their hands and traders were accepting them. their equivalent in foreign currencies to their customers. Currency dealers at Aflao and across the border in Lome said until the new Ghana cedis and coins were in full circulation it would be difficult to change the 1,000 CFA for GH 1.95 CFA Francs as the official rate.