Dr. Sam Mensah started spreading the wrong information. Read the last BoG policy statement, they stated 33%.
Dr. Sam Mensah started spreading the wrong information. Read the last BoG policy statement, they stated 33%.
Chief 9 years ago
It 23% fall something to be proud of defending? Even 1% will be too much a fall.
It 23% fall something to be proud of defending? Even 1% will be too much a fall.
EZEKIEL 9 years ago
At least BETTER than 40% We should ALSO LEARN to value "small things" like this example! IT makes a LOT of difference for somebody contemplating INVESTING !!!!! Ghanaian journalists are MOSTLY SHIT in their reporting...FEW FA ... read full comment
At least BETTER than 40% We should ALSO LEARN to value "small things" like this example! IT makes a LOT of difference for somebody contemplating INVESTING !!!!! Ghanaian journalists are MOSTLY SHIT in their reporting...FEW FACTS and much Bla bla bla!
master 9 years ago
Well, investors would not listen to former propaganda activist anyway. They would rather listen to the more credible and tested Financial Times. After all, what to they stand to gain by publishing untruth against Ghana? Don't ... read full comment
Well, investors would not listen to former propaganda activist anyway. They would rather listen to the more credible and tested Financial Times. After all, what to they stand to gain by publishing untruth against Ghana? Don't tell me they are NPP sympathisers.
Kwaame 9 years ago
Quote...“According to Bank of Ghana, the cedi traded at 2.34 against the US dollar in January 2014, and as of Friday 1st August, 2014, it stood at 3.035 to the US dollar......”. Which day in January is the BoG talking abo ... read full comment
Quote...“According to Bank of Ghana, the cedi traded at 2.34 against the US dollar in January 2014, and as of Friday 1st August, 2014, it stood at 3.035 to the US dollar......”. Which day in January is the BoG talking about? Ezekiel, why are they using the January average rate (implicitly) and dividing by the rate on 1st August?
This BoG guys need a refresher course in basic mathematics. There is nothing political about what is going on. The cedi per dollar spot rate on Bloomberg at 4:15PM today was GHS3.8602. So following the BoG's calculation the cedi is down 64.49658% since January. Don't insult the journalists, Ezekiel, you have exposed your ignorance.
Foreigner 9 years ago
The BoG is playing with the numbers. I don't know where they got their 2.34 unless they are using an average for January. From their own site, the number is 2.211 as of Jan 2nd.
The other thing is BoG numbers that they p ... read full comment
The BoG is playing with the numbers. I don't know where they got their 2.34 unless they are using an average for January. From their own site, the number is 2.211 as of Jan 2nd.
The other thing is BoG numbers that they post. The reality at the forex bureaus and banks when doing transactions are significantly different. BoG quotes 3.05 for selling (interbank), the banks will quote 3.63 for wiring and most forex' are at 4.00. What is the TRUE exchange rate on the people? Surely NNOT 3.05 or anything close to it.
Too Known 9 years ago
Official BOG rates notwithstanding, turn to oanda.com for what is arguably the most accurate database of real exchange rates fueling real commerce in the real world.
1 January 2014 average ask rate (i.e. what actual banks ... read full comment
Official BOG rates notwithstanding, turn to oanda.com for what is arguably the most accurate database of real exchange rates fueling real commerce in the real world.
1 January 2014 average ask rate (i.e. what actual banks would have paid in cedis to end up with one dollar on the other end of a wire transfer) was 2.38.
Same figure on 1 August 2014, 3.42, a 44% decline in value.
The last few days have been especially devastating as pronouncements such as these from government rattle confidence that any genuine progress is being made toward addressing the fundamentals driving the crisis.
12 August 2014, 3.65, a 53% decline year-to-date.
Obrefo 9 years ago
The stupid corrupt incompent thieves parading as government officials should wake up and smell the coffee. It's demand and supply at work stupid but not the phantom artificial exchange rate set by this corrupt incompetent adm ... read full comment
The stupid corrupt incompent thieves parading as government officials should wake up and smell the coffee. It's demand and supply at work stupid but not the phantom artificial exchange rate set by this corrupt incompetent administration. The dollar on the average is selling for ghc3.80 in Accra and it's fact.
KWABENA BOATENG 9 years ago
BANK OF GHANA WEBSITE HAS IT THAT THE CEDI WAS AVERAGING GH ¢2.10 TO THE DOLLAR ON 1ST JANUARY, 2014 WHILE IT IS CURRENTLY GH ¢3.03 TO THE DOLLAR. THIS OFFICIAL RATE EVEN GIVES 37% DEPRECIATION. THE LIES AND PROPAGANDA DOE ... read full comment
BANK OF GHANA WEBSITE HAS IT THAT THE CEDI WAS AVERAGING GH ¢2.10 TO THE DOLLAR ON 1ST JANUARY, 2014 WHILE IT IS CURRENTLY GH ¢3.03 TO THE DOLLAR. THIS OFFICIAL RATE EVEN GIVES 37% DEPRECIATION. THE LIES AND PROPAGANDA DOES NOT IMBUE CONFIDENCE AND THE EARLIER THE GOVT AVOIDS THIS, THE BETTER FOR THE COUNTRY.
master 9 years ago
Listen to this minister! Team B reserve player.
"We are working assiduously to address these in a "Home Grown" fiscal consolidation plan that we have already submitted to the IMF."
Listen to this minister! Team B reserve player.
"We are working assiduously to address these in a "Home Grown" fiscal consolidation plan that we have already submitted to the IMF."
KWABENA BOATENG 9 years ago
SORRY, BOGs 2nd January Figure was
GH ¢ 2.21 TO THE DOLLAR.
SORRY, BOGs 2nd January Figure was
GH ¢ 2.21 TO THE DOLLAR.
Kojo, San Antonio, TX 9 years ago
He consider it as an achievement to have Ghan cedi fallen by 23% and not 40%. WOW, what a great achievement!!!!, Mr. President! USELESS!!!!
He consider it as an achievement to have Ghan cedi fallen by 23% and not 40%. WOW, what a great achievement!!!!, Mr. President! USELESS!!!!
K Man 9 years ago
This is like having your wife/husband saying oh I didn't have affairs with 5 people only 2.....do you think this makes this better?
This government is OBSESSED with spin and PR...wow...you guys keep on outdoing yourselves ... read full comment
This is like having your wife/husband saying oh I didn't have affairs with 5 people only 2.....do you think this makes this better?
This government is OBSESSED with spin and PR...wow...you guys keep on outdoing yourselves.
Again, I don't understand, does NDC believe that this spin will somehow put them in a better light....somehow peopel will forget the incompetence and struggling economy.
joe 9 years ago
MAHAMA AND NDC VOODO ECONOMY WILL DESTROY GHANA FURTHER AND WILL DRAG THE VALUE OF THE CEDI DOWN FURTHER
MAHAMA AND NDC VOODO ECONOMY WILL DESTROY GHANA FURTHER AND WILL DRAG THE VALUE OF THE CEDI DOWN FURTHER
jedepn 9 years ago
ALL THESE PHD,S IN GHANA ARE NOTHING BUT SHIT.GHANA IS SINKING DOWN THE DRAINE AND YOU MAKING COMPARISMS.FOOLS
ALL THESE PHD,S IN GHANA ARE NOTHING BUT SHIT.GHANA IS SINKING DOWN THE DRAINE AND YOU MAKING COMPARISMS.FOOLS
Realist 9 years ago
PLEASE ASK THE DOCTOR TO GO TO ANY BANK OR FOREX BUREAU AND TRY TO GET US$ COVER FOR IMPORT BILLS AT 3.03 AND SEE IF HE IS NOT LAUGHED OUT OF THE OFFICE. THE US$ IS NOW SELLING FOR GH 3.70 AND ABOVE SO WHAT % IS THAT DR. OMAN ... read full comment
PLEASE ASK THE DOCTOR TO GO TO ANY BANK OR FOREX BUREAU AND TRY TO GET US$ COVER FOR IMPORT BILLS AT 3.03 AND SEE IF HE IS NOT LAUGHED OUT OF THE OFFICE. THE US$ IS NOW SELLING FOR GH 3.70 AND ABOVE SO WHAT % IS THAT DR. OMANE COMPARED TO JANUARY 2.34
Erasmus 9 years ago
.
.
Rara 9 years ago
Look at these fools trying to defend 1% whiles the country is sinking in quicksand ??they are so proud to defend a percentage..what a bunch of idiots??are they freaking SERIOUS????
Look at these fools trying to defend 1% whiles the country is sinking in quicksand ??they are so proud to defend a percentage..what a bunch of idiots??are they freaking SERIOUS????
Achie 9 years ago
The BoG rate of 3.035 is very misleading. The interbank rate is the one to look at which is about 3.5 at the moment. Their figures are misleading. Do they have the dollars to issue to the banks at the 3.035? If not then they ... read full comment
The BoG rate of 3.035 is very misleading. The interbank rate is the one to look at which is about 3.5 at the moment. Their figures are misleading. Do they have the dollars to issue to the banks at the 3.035? If not then they should not quote their non-existent rate. At best they should quote the forex rate which is about 4.1 at the moment because you can get dollars at this rate. They must be real and stop follong the populace
Say the TRUTH 9 years ago
CAN'T BELIEVE THIS NDC GOVERNMENT COMING OUT TO DEFEND EVEN A FALL OF THE CEDI AS 23% NOT 40%!!!
WHAT A TWARTS WE HAVE IN CHARGE OF THE AFFAIRS OF THE NATION!!!
THEY ARE DEFENDING THAT THE CEDI WAS @3.06 FOR A DOLLAR WHEN ... read full comment
CAN'T BELIEVE THIS NDC GOVERNMENT COMING OUT TO DEFEND EVEN A FALL OF THE CEDI AS 23% NOT 40%!!!
WHAT A TWARTS WE HAVE IN CHARGE OF THE AFFAIRS OF THE NATION!!!
THEY ARE DEFENDING THAT THE CEDI WAS @3.06 FOR A DOLLAR WHEN RIGHT NOW IT IS ALMOST 3.7825 ON THE INTENATIONAL MARKET AND STILL GOING UP (MEANWHILE IN GHANA YOU WILL NOT EVEN GET IT AT 4.00 CEDIS FOR THE DOLLAR)!!!!!
WHAT A TWARTS WE HAVE ---THEY HAVE NO SHAME FOR BRINGING THE WHOLE NATION DOWN INTO SHAME & DISRUPTE IN THE GLOBAL WORLD!!!!
SHAME SHAME SHAMELESS & CLUELESS FOOOOOLLLLLLLSSSSSSSSSSS WE HAVE IN CHARGE OF AFFAIRS OF THE NATION!!!!
Mr. Mister 9 years ago
Bank of Ghana is stealing our remittance money with their cheating rate of 3.03 while the actual rate is 3.68. Armed robbers and liars.
Bank of Ghana is stealing our remittance money with their cheating rate of 3.03 while the actual rate is 3.68. Armed robbers and liars.
Abu-Mensa 9 years ago
Idiotic logic; comparing our currency to those of Syria and Ukraine.
They are at war. We are not!
Have you no God-given brains??
How can you proceed to say our economy is strong because our currency is stronger than those ... read full comment
Idiotic logic; comparing our currency to those of Syria and Ukraine.
They are at war. We are not!
Have you no God-given brains??
How can you proceed to say our economy is strong because our currency is stronger than those warring countries' economies?
What have you been smoking? You piffling mongoose!
Dr Cann 9 years ago
The Bank of Ghana rates did not reflect the open markets rates of the cedi. Moreover BOG does not sell foreign exchange to the public at this rate except the select few who buys it at the low artificial rate and re-sell at th ... read full comment
The Bank of Ghana rates did not reflect the open markets rates of the cedi. Moreover BOG does not sell foreign exchange to the public at this rate except the select few who buys it at the low artificial rate and re-sell at the open market at a risk free profit.
Jim 9 years ago
Majority of Ghanaians buy the dollar from the ope market which is always higher than what BOG quotes.As at yesterday selling rate of the dollar at Accra shopping mall was 3.85 cedis.
these people should give us a break.
Majority of Ghanaians buy the dollar from the ope market which is always higher than what BOG quotes.As at yesterday selling rate of the dollar at Accra shopping mall was 3.85 cedis.
these people should give us a break.
Shame on NDC 9 years ago
Only illiterates will fall for this lie. 1dollar is now 3.7 cedis not 3.03 as reported on bank of Ghana website. 3.03 is the interbank rates that is the rate at which banks trade among themselves. No foreigner should believe ... read full comment
Only illiterates will fall for this lie. 1dollar is now 3.7 cedis not 3.03 as reported on bank of Ghana website. 3.03 is the interbank rates that is the rate at which banks trade among themselves. No foreigner should believe this it is just propaganda.
Kwaame 9 years ago
The harm is done, because in the real world perception is the reality. You guys should stop wasting words on decimal points and fix the economy. It all depends on the data point used (e.g. average for Jan., or highest rate fo ... read full comment
The harm is done, because in the real world perception is the reality. You guys should stop wasting words on decimal points and fix the economy. It all depends on the data point used (e.g. average for Jan., or highest rate for the cedi in Jan) versus the prevailing exchange rate.
paul 9 years ago
ghanian govt. Pls let ur help our currency to have the respect that dollar and pound has. We can do it. Let's do it right.
ghanian govt. Pls let ur help our currency to have the respect that dollar and pound has. We can do it. Let's do it right.
FOOLS.IS 23% GOOD ENOUGH?
Dr. Sam Mensah started spreading the wrong information. Read the last BoG policy statement, they stated 33%.
It 23% fall something to be proud of defending? Even 1% will be too much a fall.
At least BETTER than 40% We should ALSO LEARN to value "small things" like this example! IT makes a LOT of difference for somebody contemplating INVESTING !!!!! Ghanaian journalists are MOSTLY SHIT in their reporting...FEW FA ...
read full comment
Well, investors would not listen to former propaganda activist anyway. They would rather listen to the more credible and tested Financial Times. After all, what to they stand to gain by publishing untruth against Ghana? Don't ...
read full comment
Quote...“According to Bank of Ghana, the cedi traded at 2.34 against the US dollar in January 2014, and as of Friday 1st August, 2014, it stood at 3.035 to the US dollar......”. Which day in January is the BoG talking abo ...
read full comment
The BoG is playing with the numbers. I don't know where they got their 2.34 unless they are using an average for January. From their own site, the number is 2.211 as of Jan 2nd.
The other thing is BoG numbers that they p ...
read full comment
Official BOG rates notwithstanding, turn to oanda.com for what is arguably the most accurate database of real exchange rates fueling real commerce in the real world.
1 January 2014 average ask rate (i.e. what actual banks ...
read full comment
The stupid corrupt incompent thieves parading as government officials should wake up and smell the coffee. It's demand and supply at work stupid but not the phantom artificial exchange rate set by this corrupt incompetent adm ...
read full comment
BANK OF GHANA WEBSITE HAS IT THAT THE CEDI WAS AVERAGING GH ¢2.10 TO THE DOLLAR ON 1ST JANUARY, 2014 WHILE IT IS CURRENTLY GH ¢3.03 TO THE DOLLAR. THIS OFFICIAL RATE EVEN GIVES 37% DEPRECIATION. THE LIES AND PROPAGANDA DOE ...
read full comment
Listen to this minister! Team B reserve player.
"We are working assiduously to address these in a "Home Grown" fiscal consolidation plan that we have already submitted to the IMF."
SORRY, BOGs 2nd January Figure was
GH ¢ 2.21 TO THE DOLLAR.
He consider it as an achievement to have Ghan cedi fallen by 23% and not 40%. WOW, what a great achievement!!!!, Mr. President! USELESS!!!!
This is like having your wife/husband saying oh I didn't have affairs with 5 people only 2.....do you think this makes this better?
This government is OBSESSED with spin and PR...wow...you guys keep on outdoing yourselves ...
read full comment
MAHAMA AND NDC VOODO ECONOMY WILL DESTROY GHANA FURTHER AND WILL DRAG THE VALUE OF THE CEDI DOWN FURTHER
ALL THESE PHD,S IN GHANA ARE NOTHING BUT SHIT.GHANA IS SINKING DOWN THE DRAINE AND YOU MAKING COMPARISMS.FOOLS
PLEASE ASK THE DOCTOR TO GO TO ANY BANK OR FOREX BUREAU AND TRY TO GET US$ COVER FOR IMPORT BILLS AT 3.03 AND SEE IF HE IS NOT LAUGHED OUT OF THE OFFICE. THE US$ IS NOW SELLING FOR GH 3.70 AND ABOVE SO WHAT % IS THAT DR. OMAN ...
read full comment
.
Look at these fools trying to defend 1% whiles the country is sinking in quicksand ??they are so proud to defend a percentage..what a bunch of idiots??are they freaking SERIOUS????
The BoG rate of 3.035 is very misleading. The interbank rate is the one to look at which is about 3.5 at the moment. Their figures are misleading. Do they have the dollars to issue to the banks at the 3.035? If not then they ...
read full comment
CAN'T BELIEVE THIS NDC GOVERNMENT COMING OUT TO DEFEND EVEN A FALL OF THE CEDI AS 23% NOT 40%!!!
WHAT A TWARTS WE HAVE IN CHARGE OF THE AFFAIRS OF THE NATION!!!
THEY ARE DEFENDING THAT THE CEDI WAS @3.06 FOR A DOLLAR WHEN ...
read full comment
Bank of Ghana is stealing our remittance money with their cheating rate of 3.03 while the actual rate is 3.68. Armed robbers and liars.
Idiotic logic; comparing our currency to those of Syria and Ukraine.
They are at war. We are not!
Have you no God-given brains??
How can you proceed to say our economy is strong because our currency is stronger than those ...
read full comment
The Bank of Ghana rates did not reflect the open markets rates of the cedi. Moreover BOG does not sell foreign exchange to the public at this rate except the select few who buys it at the low artificial rate and re-sell at th ...
read full comment
Majority of Ghanaians buy the dollar from the ope market which is always higher than what BOG quotes.As at yesterday selling rate of the dollar at Accra shopping mall was 3.85 cedis.
these people should give us a break.
Only illiterates will fall for this lie. 1dollar is now 3.7 cedis not 3.03 as reported on bank of Ghana website. 3.03 is the interbank rates that is the rate at which banks trade among themselves. No foreigner should believe ...
read full comment
The harm is done, because in the real world perception is the reality. You guys should stop wasting words on decimal points and fix the economy. It all depends on the data point used (e.g. average for Jan., or highest rate fo ...
read full comment
ghanian govt. Pls let ur help our currency to have the respect that dollar and pound has. We can do it. Let's do it right.