Cedi appreciation against the dollar is temporal – Kennedy Agyapong

Kennedy Agyapong, a former MP and NPP flagbearer aspirant, has shared his views on the cedi's recent appreciation against the US dollar. He believes this trend is temporary.

Agyapong stated that the cedi's rise is not due to Ghanaian economic experts. Instead, he claims it results from reduced global demand for the dollar.

He explained that there is currently more supply of dollars than demand. This situation leads to less competition in the market.

Speaking at an event at Central University on May 15, 2025, Agyapong said, “It is temporal. It is not any economic gurus causing this change.” He emphasized that basic economic principles are at play here.

Meanwhile, Finance Minister Dr. Cassiel Ato Forson disagrees with Agyapong’s assessment. He insists that the cedi's appreciation will be sustained and not just a fleeting moment.

Ato Forson was quoted by JOY NEWS saying, “Cedi’s appreciation not a ‘nine-day wonder’; it will be sustained.”

As of May 15, 2025, the cedi trades at GH¢12.4 to the dollar. The currency continues to show marginal gains against major trading currencies.