The cedi is poised to undergo a larger upgrade than it currently has, according to social analyst Kwame A Plus.
On the interbank foreign exchange market, the Ghana Cedi was trading against the US dollar as of Friday, December 16, 2022, with a buying price of GH9.00 and a selling price of GH8.0055.
Since then, the situation has forced A Plus to forecast that the local currency is expected to continue to gain over the next few days.
He added a caption to the Instagram post showing the Bank of Ghana’s exchange rates iterating:
“The dollar is singing I fall for you down flat to the cedi. By Monday, it will be 5 cedis to a dollar. Things are getting better.”
https://www.instagram.com/p/CmOdsGSqUc5/?utm_source=ig_embed&ig_rid=b7922071-f3fc-494b-94b3-637d5f10920e
Along with A Plus, other Ghanaian celebrities have responded to the Ghana Cedi’s stronger performance against other currencies, particularly the US dollar.
People like Kwame A Plus, Lydia Forson, Prince David Osei, and others have expressed their happiness at the cedi’s appreciation on social media.
These people are a subset of netizens who think the development may herald an end to the nation’s current economic difficulties.
Others, on the other hand, contend that the trend is not causing for celebration if prices for goods and services remain unchanged despite the dollar appearing to be performing well.
Conclusion
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