The Ghana had been depreciating exponentially; however, it has been appreciating for some time now. This massive appreciation of the currency has undoubtedly been attributed to efforts of the new gorvernment. The exchange rate was over GH16 to US$1 but now one needs less than GH11 to get US$1. This drastic change of the the economy has been reacted to with mixed feeling. As a result, the President, H.E. John Dramani Mahama has addressed the public in response to their ambivalent reactions.
The president has emphatically stated that the central bank is monitoring the situation; and the exchange rates are not artificial figures rather, it is a result of a well-planned economic interventions. He futher assured the general business community that the end result is never going to be detrimental.
About The Author
