It’s dangerous for GHS to trade at four per $1 – Mahama reveals true value of rising local currency

President John Mahama has dismissed claims about the Ghana cedi's value.

He spoke to Ghanaian exporters about trade and economic growth. Currently, US$1 is equal to GHS10.23.

“Some say it would drop to four cedis per dollar,” he said. “But we know the true value of the cedi is not four.”

He warned that if it fell to four, it would harm export businesses.

Mahama met with Finance Minister Dr. Cassiel Ato Baah Forson and Bank of Ghana Governor Dr. Johnson Pandit Asiama. They discussed finding the true value of the cedi to protect the economy and boost trade.

“They believe the real value is between 10 and 12 cedis per dollar,” he explained. “The forex option has stabilized it just above 10.”

He added that a range of 10 to 12 would be fair for exports and imports. This balance prevents flooding markets with cheap goods like toothpicks and biscuits.

Mahama assured businesses that his government would manage the economy wisely. He wants to create a predictable environment for investments, ensuring good returns for businesses.