The recent appreciation of the Ghanaian cedi against major foreign currencies has sparked heated debates among traders in Accra, with some advocating for price reductions.

Speaking with GhanaWeb TV on June 3, one of the traders, Naomi, welcomed the calls for price reductions, stating, "The cedi's appreciation is a good thing for us traders. We should pass on the benefits to our customers. It's time we reduced prices to reflect the new exchange rate."

However, not all traders share Naomi's enthusiasm.

At the Accra Market, Samuel, also a trader, expressed skepticism.

"Reducing prices overnight is not feasible. We have existing stock that we purchased at higher rates. We can’t just slash prices without incurring losses," he stated.

For some other traders, the issue is more about survival than profit.

"We're barely making ends meet. If we reduce prices too much, we might not be able to sustain our businesses. We need to find a balance," said Abigail, another trader at the Accra Market.

Some other traders, too, believe the government intervention is necessary to regulate prices.

"The government should step in and ensure that prices are fair and reasonable. We can’t just rely on market forces to determine prices," said Henry, another trader.

As the debate continues, one thing is clear: the cedi's appreciation has presented opportunities and challenges for traders in Accra.

Watch the following video to hear more of what traders think:



NAD/AE