'Don't panic if you haven't changed your dollars yet' - Mahama assures of BoG's measures

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Kofi 6 months ago

They don't have any policies which is appreciating the cedi, instead it's Trumps trade war which is appreciating the cedi.
Quote
Trump's chaotic trade policy and concerns about the worsening US deficit have dampened sentime ...
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They don't have any policies which is appreciating the cedi, instead it's Trumps trade war which is appreciating the cedi.
Quote
Trump's chaotic trade policy and concerns about the worsening US deficit have dampened sentiment toward US assets, thus weighing on the dollar. "In the long term, a regime change for the US dollar could be imminent after the recent peak," said David Meier, economist at Julius Baer. "The unpredictable US policy, the strained fiscal situation, and the high foreign debt, combined with the two deficits, suggest that a weaker US dollar is the path of least resistance." Unquote
TT 6 months ago

Your people will have added Trump Trade War Levy by now.

Your people will have added Trump Trade War Levy by now.
Kwame 6 months ago

Not true because the cfa for example has weakened against the cedi and naira also...

Not true because the cfa for example has weakened against the cedi and naira also...
.mr amin 6 months ago

Mahama I disagree with you ooo you should rather tell them not to keep foreign currencies we should build strong confidence in our local currency the cedi

Mahama I disagree with you ooo you should rather tell them not to keep foreign currencies we should build strong confidence in our local currency the cedi
Kwame D 6 months ago

What does he know, clueless president

What does he know, clueless president
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Emmanuel Quaicoe 6 months ago

YOU JUST PRESSED THE PANIC BUTTON

YOU JUST PRESSED THE PANIC BUTTON
Dom 6 months ago

President has just hinted, and i am pretty sure the dollar will be maintained at ghc10. Mark it.

President has just hinted, and i am pretty sure the dollar will be maintained at ghc10. Mark it.
now 6 months ago

u think an indebted country like Ghana has the ability to peg its currency ?just wait and se what will happen in the next month

u think an indebted country like Ghana has the ability to peg its currency ?just wait and se what will happen in the next month
Hannan 6 months ago

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Achakanapaya 6 months ago

JDM is playing a smart game here ooh. The is going to 5 cedis to one Dollar.
Mark my words.

JDM is playing a smart game here ooh. The is going to 5 cedis to one Dollar.
Mark my words.
Kwame D 6 months ago

Very soon the NDC would be quite and shamed by the dollar

Very soon the NDC would be quite and shamed by the dollar
Lion 6 months ago

So even the leader is not happy that his indigenous currency is getting stronger by the day. What at all is wrong with us. When the dollar was going up to 15 it was okay. Why shouldn't it be okay if it goes below 1 cedi? Befo ...
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So even the leader is not happy that his indigenous currency is getting stronger by the day. What at all is wrong with us. When the dollar was going up to 15 it was okay. Why shouldn't it be okay if it goes below 1 cedi? Before the redenomination or rebasing of the economy 1 dollar was equal to 9600 cedis and they told us that the value is the same.
Kwame Prah 6 months ago

You are a fuuuul. The teachers and doctors are still been paid in Ghana cedis using the foreign exchange gotten from Cocoa, gold and crude oil. If the cedis falls to 5 cedis per dollar, the government will have less cedis if ...
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You are a fuuuul. The teachers and doctors are still been paid in Ghana cedis using the foreign exchange gotten from Cocoa, gold and crude oil. If the cedis falls to 5 cedis per dollar, the government will have less cedis if they convert their dollars to pay these public sector workers.
.mr amin 6 months ago

@ Lion, infact I agree with you 1000% the president needs not to have said that, he should remember the cedi rate was 90p before, now we have the Goldbod let's move forward to kill poverty in our communities

@ Lion, infact I agree with you 1000% the president needs not to have said that, he should remember the cedi rate was 90p before, now we have the Goldbod let's move forward to kill poverty in our communities
Fred 6 months ago

Ha ha haaa

Ha ha haaa
Kwame Prah 6 months ago

NPP opirandi was to print alot of cedis, convert them to dollars and gold bars for the future. Now, this governor of BoG is ensuring the dollars lose its value so that when NPP thieves need cedis to run errands, they will lo ...
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NPP opirandi was to print alot of cedis, convert them to dollars and gold bars for the future. Now, this governor of BoG is ensuring the dollars lose its value so that when NPP thieves need cedis to run errands, they will lose money compared to how much they bought the dollars. If NDC can make sure the dollar keeps steady at 8 cedis, they will have lost half of their wealth. Also, Sammy Gyamfi at goldbond will intercept every gold to be sold at domestically fixed rate. Aboaaa fonu
William HK Sorkpor --Boston, USA 6 months ago

WELL PUT MR. PRESIDENT! BUT YOU FORGOT TO FACTOR IN THE EFFECT OF THE UNITED STATES TARIFFS. THE TARIFFS ARE MAKING IT MORE ATTRACTIVE TO HOLD RESERVES IN GOLD OVER THE U.S. DOLLAR. AS A RESULT GOLD IS ON THE RISE, AND THE U. ...
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WELL PUT MR. PRESIDENT! BUT YOU FORGOT TO FACTOR IN THE EFFECT OF THE UNITED STATES TARIFFS. THE TARIFFS ARE MAKING IT MORE ATTRACTIVE TO HOLD RESERVES IN GOLD OVER THE U.S. DOLLAR. AS A RESULT GOLD IS ON THE RISE, AND THE U.S. DOLLAR IS IN RETREAT. THIS WILL NOT LAST: ONCE THE TARIFFS ARE SORTED OUT THE U.S. DOLLAR WILL TAKE OFF AGAIN. THIS IS THE SITUATION WE MUST STRATEGIZE AGAINST. IN MY OPINION, WE MUST BALANCE THE SALE OF GOLD WITH A ROBUST PURCHASING OF THE UNITED STATES DOLLAR IMMEDIATELY. PLEASE DON'T WAIT -- LEST WE ARE OVERTAKEN BY EVENTS. MR. PRESIDENT PLEASE ACT TODAY! MAY LORD ALMIGHTY CONTINUE TO BLESS OUR BELOVED GREAT GHANA: AMEN!!!
Kobea Augustine 6 months ago

Keep on taking

Keep on taking
Gslow 6 months ago

Eiiiiii Ghana, when the thing is coming down too ebi problem??????

Eiiiiii Ghana, when the thing is coming down too ebi problem??????
FunnyGhana 6 months ago

Just change your dollars and be free. All the foolish people who were chopping free money and converting into dollar should now convert back into cedis and be happy that atleast they are getting half of what never belonged to ...
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Just change your dollars and be free. All the foolish people who were chopping free money and converting into dollar should now convert back into cedis and be happy that atleast they are getting half of what never belonged to them in the first place.
Ghana 6 months ago

John those keeping the dollars are far far less than those not keeping the dollar, please think about the ordinary Ghanaian first, they are the one that voted for u, 80% of Ghanaians are suffering because of this dollar, me I ...
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John those keeping the dollars are far far less than those not keeping the dollar, please think about the ordinary Ghanaian first, they are the one that voted for u, 80% of Ghanaians are suffering because of this dollar, me I have dollars saved but I don't care if dollar is even ghc0.50, people are really suffering, please don't let power make u forget the poor people that voted for u..
Phil 6 months ago

Many people don’t fully grasp the consequences of a sudden depreciation or even extreme appreciation of a country's currency.

What the president is essentially pointing out is this:
When the cedi appreciates sharply, i ...
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Many people don’t fully grasp the consequences of a sudden depreciation or even extreme appreciation of a country's currency.

What the president is essentially pointing out is this:
When the cedi appreciates sharply, it becomes more expensive for foreign investors to buy our goods, since most international trade is done in U.S. dollars. If the cedi gains too much value too quickly, it raises the cost of Ghanaian products for foreign buyers, which can drive them away.

Let’s take cocoa as an example. Suppose an investor typically buys a bag of cocoa from the Ghanaian market for GHS 2,000. If the cedi strengthens too much against the dollar, that investor now needs to spend more dollars to get the same amount of cedis. Faced with higher costs, they might choose to source cocoa from another country where currency exchange is more favorable.

And what does that mean for the Ghanaian exporter? They lose business. Export volumes drop. And since exports contribute significantly to Ghana’s economic growth, the ripple effects could be serious potentially leading to job losses and business closures.

Economists understand this dynamic well. A stable and competitive exchange rate is crucial for keeping Ghana attractive to foreign investors and supporting our export-driven sectors.
But why so strong? 6 months ago

Perfect explanation. A strong Cedi appreciation will increase imports, reduce exports, and lead to job losses. Needs to be managed carefully. Business likes stability.

Perfect explanation. A strong Cedi appreciation will increase imports, reduce exports, and lead to job losses. Needs to be managed carefully. Business likes stability.
Former President 6 months ago

Buy dollars, debts are due, foundations of the economy are weak, GHc 25 - 30 to one dollar by the end of the year

Buy dollars, debts are due, foundations of the economy are weak, GHc 25 - 30 to one dollar by the end of the year
Remedy 6 months ago

Pause all mining activities. Infact, revoke all mining licences and band mining for some months so you can effectively and completely put galamsey to an end. In so doing, the will be less or no export of gold for a period dur ...
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Pause all mining activities. Infact, revoke all mining licences and band mining for some months so you can effectively and completely put galamsey to an end. In so doing, the will be less or no export of gold for a period during when the dollar is down and When mining resumes, let us nit be quick to export.

Build a cocoa processing factory so that cocoa can be processed into Milo/chocolate and this is going to reduce exportation of the raw cocoa.
Tonto 6 months ago

The President doesn't know how down the dollar will go. So who is behind this downward trend??? Even the presidency stated categorically that he does know how down the dollar will go. So it means his administration is not beh ...
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The President doesn't know how down the dollar will go. So who is behind this downward trend??? Even the presidency stated categorically that he does know how down the dollar will go. So it means his administration is not behind this downward trend. Hmmmmmm . Lets wait and see as the Presidency does not even have the idea. We should all wait and see.
Clynns 6 months ago

We have canceled zeros in our denomination and we should remember if had not been that our currency would have been the lowest in the world so when it goes down to a 90 pesewas it's not wrong it will be great for our currency ...
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We have canceled zeros in our denomination and we should remember if had not been that our currency would have been the lowest in the world so when it goes down to a 90 pesewas it's not wrong it will be great for our currency to dominate the world so bravo Mr president put more pressure on the foreign currencies..
Not Possible 6 months ago

The economy wizard himself is also confused. Bawumia wants to know what caused the cedi to rise to this level.
The big difference between fake economist and the real pragmatic minister of finance.
Ofori Atta and family were ...
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The economy wizard himself is also confused. Bawumia wants to know what caused the cedi to rise to this level.
The big difference between fake economist and the real pragmatic minister of finance.
Ofori Atta and family were stealing with impunity yet NPP were busy fighting for the crumbs from Akufo Addo’s table.
Bawumia stopped talking about the cedi/dollar issue long before the general election.
E quarcoo 6 months ago

The cedi is appreciating against the dollar but the prices of goods and services stay where they are. what is benefit in a strong cedi if prices of goods and services are still high

The cedi is appreciating against the dollar but the prices of goods and services stay where they are. what is benefit in a strong cedi if prices of goods and services are still high
Kwame 6 months ago

What the president said that our export economy will collapse if the Dollar and Cedi are at par.

The economy of Britain did not collapse, though the Pound Sterling is higher than the Dollar.

Money exchange rates to me ...
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What the president said that our export economy will collapse if the Dollar and Cedi are at par.

The economy of Britain did not collapse, though the Pound Sterling is higher than the Dollar.

Money exchange rates to me are capitalist fatishism of money.

If all currencies in the world are at par it will never destroy any economy.
Bitter truth 6 months ago

Am actually confused about Mahama with such statements..is the president encouraging some greedy Ghanaians to continue hoarding dollars? May be I didn’t understand his statement..Is Mahama not good with economics? The euros ...
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Am actually confused about Mahama with such statements..is the president encouraging some greedy Ghanaians to continue hoarding dollars? May be I didn’t understand his statement..Is Mahama not good with economics? The euros and pounds are higher than the dollar, how come the Uk export has not collapsed? If the president actually said thia, then it’s very disappointing..President Mahama please bring the cedi to $1 to 5 cedis..how could a president say this..so is mahama supporting some greedy people hoarding dollars whiles majority of Ghanaians are suffering..the president needs to come clear, this statement don’t make sense to me
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Kwadwo 6 months ago

I like president mahama but he has made big mistake by encouraging people to hoard dollar. I just need 1 cedis 1 dollar.

I like president mahama but he has made big mistake by encouraging people to hoard dollar. I just need 1 cedis 1 dollar.
Annie 6 months ago

This man and settings .. he is speaking as tho they implemented some policies for the cedis depreciation but nothing give am .. settings government
They should thank Bawumia for the reserve , trump and China trade war .

This man and settings .. he is speaking as tho they implemented some policies for the cedis depreciation but nothing give am .. settings government
They should thank Bawumia for the reserve , trump and China trade war .
PRINCE KWASI ADADE (OFIE P33) 6 months ago

You're the best after Nkrumah. They know what's coming and if you don't change your dollars, you'll be so disappointed. Hmm .it's going to be huge

You're the best after Nkrumah. They know what's coming and if you don't change your dollars, you'll be so disappointed. Hmm .it's going to be huge
Chris 6 months ago

We allowed the cedi to depreciate freely. Please allow it to appreciate freely.

We allowed the cedi to depreciate freely. Please allow it to appreciate freely.

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'Don't panic if you haven't changed your dollars yet' - Mahama assures of BoG's measures

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