Cedi appreciation putting money back into Ghanaian’s pockets – Majority leader

Mahama Ayariga, the majority leader, spoke about the cedi's recent appreciation. He said this improvement is benefiting Ghanaians financially.

In parliament, he praised the achievements of the NDC government led by John Mahama. He highlighted that they have achieved a strong currency rebound recently.

Ayariga explained that the cedi's strength has reduced transport fares and food prices. He urged parliament to support the Finance Minister in maintaining fiscal prudence.

He noted a 14.1% strengthening of the cedi against the Euro. Fuel prices have also decreased significantly: Super XP from GH₵15.85 to GH₵13.27, Diesel XP from GH₵15.99 to GH₵13.87, and Super XP 95 from GH₵15.96 to GH₵15.27.

President John Dramani Mahama mentioned that the Bank of Ghana will intervene if necessary. He addressed concerns about predictions of the cedi reaching GHS1 to $1, calling it extreme.

Mahama emphasized that such a scenario could harm Ghana’s export sector. He assured stakeholders that close coordination between finance ministries is helping stabilize the cedi's value.

He stated that recent appreciation results from market demand and supply dynamics, not manipulation. Mahama advised people not to panic about changing their dollars yet.

He reassured them that the Bank of Ghana is monitoring exchange rates closely for stability.