Just as some section of Ghanaians were anticipating some swift interventions from the government to stabilize the cedi, the latest exchange rate seems to cast despair on the state of the economy and Ghanaians have to hope against hope. From all indications, the Ghana cedi is now the worst-performing currency on the African continent and this is the sad reality.
Kevin Ekow Baidoo Taylor, the ace journalist has also waded into the current exchange rate situation and expressed his deepest frustration to those at the helm of affairs. Per his statement on his social media page, the blame must be put on the management of the economy whose actions have led to this economic downturn.
Some time passed, promises were made and lectures were held to explain how the appreciation of the dollar has been arrested concerning the cedi depreciation. This brought some sigh of relief to the business community and many were optimistic about the future.
A few years down the line, the situation has deteriorated and the painful epiphany is that in Ghana today, the frustrations of the Ghanaian people are at an all-time high. No amount of explanations can assuage the suffering until something is done.
Although for some time now the foreign exchange rates provided by some financial institutions have been significantly different, Kevin has provided a credible one from the foreign exchange retail market, which shows the dollar at Ghc9.85.
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