By Ashiadey Dotse
The recent appreciation of the Ghana cedi, which currently trades at GHS 12.92 to the US dollar, has provided a significant boost to the Ghanaian economy. In response, the Ghana Union of Traders’ Associations (GUTA) has urged traders across the country to reduce the prices of goods and services.
This call follows the sustained strengthening of the cedi against the US dollar and other major foreign currencies.
In a statement signed by its president, Dr Joseph Obeng, GUTA described the stronger cedi as good news for the economy. The association believes traders should reflect this improvement by adjusting prices to ease the burden on consumers.
“The appreciation of the cedi is a great opportunity for traders to give back to customers who are struggling with the high cost of living,” Dr Obeng said.
He added that reducing prices would demonstrate fairness and help build trust between traders and customers.
The cedi’s recent gains have been attributed to higher foreign exchange inflows, lower demand for dollars, and stronger investor confidence.
GUTA is encouraging all traders to act responsibly by adjusting their pricing in line with current exchange rates. The group believes this will support Ghana’s broader economic recovery and bring relief to many households.
