Businesses should reflect the cedi’s appreciation in their pricing – Finance Minister

Dr. Cassiel Ato Forson, the Finance Minister, has urged businesses to adjust their prices. He wants this change as the cedi improves. This adjustment will help Ghanaians feel the recovery.

Ato Forson spoke to the Ghana Union of Traders Associations (GUTA). He emphasized that businesses should reflect the cedi's improvement in their pricing. He stated, “We are seeing improvements in the cedi.”

He added that GUTA should support this effort for a true recovery.

Ato Forson also mentioned that the recent appreciation of the cedi is not temporary. He believes it will be sustained over time. He said, “Cedi’s appreciation not a ‘nine-day wonder’; it will be sustained.”

Meanwhile, GUTA praised the Bank of Ghana for restoring confidence in the cedi. In a statement, GUTA President Dr. Joseph Obeng noted that this brings hope to businesses recovering lost capital.

They also highlighted positive speculation around foreign exchange rates. This change helps reduce the idea that foreign currency is a safe store of value.

GUTA urged authorities to maintain these prudent measures. Sustaining these gains could lead to full economic recovery and increased productivity.

The Ghanaian cedi continues to gain against major currencies like the US dollar. As of May 8, 2025, it trades at GH¢13.4 per dollar.