I’m praying the dollar drops to 9 cedis by the end of this month – Former Chairperson CPP

Hajia Hamdatu Ibrahim, a former Chairperson of the Convention People’s Party (CPP), has commented on the recent appreciation of the Ghanaian cedi.

She hopes the cedi will reach 9 cedis to the dollar by May's end. Hajia Ibrahim stated, “I’m praying the dollar drops to 9 cedis by the end of this month,” as reported by GTV.

Dr. Cassiel Ato Forson, the Minister for Finance, disagrees with skeptics. He believes that the recent appreciation is not temporary. Ato Forson said, “Cedi’s appreciation not a ‘nine-day wonder’; it will be sustained.”

He urged businesses to adjust their prices accordingly. This way, Ghanaians can truly feel the economic recovery.

Speaker of Parliament Alban S.K. Bagbin expressed relief over the cedi's rise against other currencies. He noted that an appreciating cedi could make Ghana an attractive investment destination.

According to Bloomberg, since early April, the Ghana cedi has appreciated by 16%. As of May 9, 2025, it trades at GH¢13.1 to one dollar.

Dennis Miracles Aboagye from the New Patriotic Party (NPP) acknowledged government responsibility for the cedi's performance. He credited the Mahama administration for its role in this appreciation.

In a social media post on X, he wrote about giving credit to past administrations for their contributions. He firmly believes that current government actions affect the cedi's value.

Hajia Hamdatu Ibrahim hopes for further improvement in currency value as discussions continue around economic recovery efforts in Ghana.