The Ghana cedi, after several months of depreciating against the US dollar, is gradually becoming stronger, now trading against the dollar for less than GH¢12.
Ghanaian dancehall musician Stonebwoy is the latest to raise concern over the increasing prices of goods and services at a time when the country's currency has received a major boost.
In a tweet dated December 15, the singer, who is expecting a price fall, quizzed whether his followers were also in favour of price reductions in goods on the market.
He wrote: "Why be say Dollar rates leveling down nicely.. but prices of goods and services no dey gree to level with it.. You dey feel am?? #BhimConcert22."
The interbank forex rates from the Bank of Ghana on Friday, December 16, 2022, have shown that the Ghana Cedi is trading against the dollar at a buying price of 7.9975 and a selling price of 8.0055.
Check out some reactions below:
Why be say Dollar rates leveling down nicely.. but prices of goods and services no dey gree to level with it.. You dey feel am?? ????#BhimConcert22 https://t.co/AQwwVnr832
— 1GAD (@stonebwoy) December 15, 2022
*365*2022#
