The value of the Ghanaian currency keeps Depreciating every now and then. Efforts have been put in place but it seems the foreign currencies keep appreciating whiles our currency still wallow in depreciation. Depreciation of a currency is caused by a lot of factors such as political instability, interest differentials and unstable economic fundamentals.
Ghana's problem is not about political instability but rather the unstable economic fundamentals. The saying that "when the fundamentals are weak the exchange rate will expose you" always rear its ugly head in this. The fundamentals of the economy has become weak and hence the depreciation of our currency.
See picture below;
This recent rate of the currency to foreign currencies have raised a lot of comments from a lot of people. Some people are wondering as to why the vice president of Ghana haven't been able to arrest the dollar as he said he would do.
Let us see some reactions from some people;
The question we are asking our readers is that, should we be worried as a country looking at how our currency performing against foreign currencies? Let us know what you think in the comment section.
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