By Ashiadey Dotse
The Importers and Exporters Association of Ghana says the recent stability of the Ghanaian cedi is helping to reduce prices and ease pressure on traders and consumers.
Executive Secretary of the Association, Samson Asaki Awingobit, shared this on ‘The Big Issue’ on Channel One TV. He explained that traders, especially in major markets like Abossey Okai and Okaishie, are no longer worried about daily changes in the exchange rate when pricing their goods.
“In the past, traders had to call around every day to check the dollar rate before setting prices. But now, the cedi has improved, and the dollar is more available at the banks,” he said.
The exchange rate has dropped from around GH¢14 to GH¢12.30 per dollar. Awingobit said this change has reduced the need for traders to rely on the black market for foreign exchange.
“If the dollar rate goes down, prices go down too,” he added. “My wife recently bought Frytol oil for GH¢600 or GH¢700, which used to cost GH¢1,200 or more. That’s a big drop.”
He praised the government’s efforts and urged authorities to continue working to maintain the cedi’s strength so more Ghanaians can benefit.
