Tema West MP Carlos Kingsley Ahenkorah has praised the government’s efforts to stabilize the cedi, stating that the exchange rate would have plummeted to GHC 50.00 to 1 dollar if the National Democratic Congress (NDC) were in power.
During a discussion on UTV, Ahenkorah credited the government’s policies, including the Gold for Oil initiative, for mitigating the cedi’s depreciation, which currently stands at 14 percent.
As of May 27, 2024, the Ghana cedi is trading at 13.9480 (buying) and 13.9620 (selling) against the US dollar, according to the Bank of Ghana’s interbank forex rates.
At Accra’s forex bureaus, the dollar is being exchanged at 14.80 (buying) and 15.00 (selling). The Pound Sterling is trading at 17.7712 (buying) and 17.7904 (selling), while forex bureaus in Accra offer exchange rates of 19.00 (buying) and 19.70 (selling).
The Euro is exchanging at 15.1360 (buying) and 15.1498 (selling).
