King Promise has lamented the woeful performance of the Ghana cedi against the dollar, a situation that has resulted in a high cost of products.
The Cedi, which traded against the dollar at a mid-rate of 8.0301, is currently selling at GH¢9.45 to the US dollar as of August 11, 2022.
The situation has resulted in citizens calling on the government led by President Akufo-Addo and his vice, Dr Mahamudu Bawumia, to ‘arrest’ the dollar as they promised.
“Ghana sika sÉ›m ayÉ› basaaa. Wowww. The pressure is getting worser,” the singer wrote in reaction to a tweet by one of his fans who expressed shock about the rate of a dollar to the cedi: “Herhh dollar hit 9 and coins.”
According to a GhanaWeb Business report, the dollar is being bought at a rate of 9.18 and sold at a rate of 9.45 at a forex bureau in Accra.
Against the Pound Sterling, the Cedi is trading at a buying price of 9.8223 and a selling price of 9.8330 as compared to yesterday’s trading at a buying price of 9.6890 and a selling price of 9.6995.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 10.80 and sold at a rate of 11.10.
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Source:ghanaweb.com