Why Is The Cedi Appreciating Against The Dollar, But Prices Of Goods And Services Are Not Going Down – Stonebwoy Asks

Why Is The Cedi Appreciating Against The Dollar, But Prices Of Goods And Services Are Not Going Down - Stonebwoy Asks

CEO of Burniton Music Group, Stonebwoy, has asked why the dollar rate against the Ghana Cedi has dropped dramatically while the market pricing of goods and services has remained same. 

The Cedi, which was ranked the second worst performing currency in the world in October after losing 40% of its value this year, has retained its worth appreciating the dollars

According to experts, the cedi has risen more than 20% in value against major foreign currencies, especially the US dollar, in less than a week.

This resulted in a slew of reactions from celebrities, businessmen, politicians, and ordinary Ghanaians who shared their thoughts on why the Cedi against the Dollar is being appreciated but the prices of goods and services have not returned to their normal levels.

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However, Stonebwoy is the latest person who took to his official Twitter to question why things remain the same in the market, despite the fact that the Cedis are currently appreciating against the dollar.

Why be say Dollar rates leveling down nicely.. but prices of goods and services no dey gree to level with it.. You dey feel am?? – Stonebwoy tweeted

The latest data from the Bank of Ghana (BoG) indicates that the Ghana cedi is as of Thursday, December 15, 2022, selling at ¢9.30 and buying at ¢9.29

SOURCE: www.hellovybes.com

Eben Mugeez

Eben Mugeez is a publicist who owns Hello Vybes, covers and publish stories about celebrities, entertainment news in Ghana, Sports, Economic, Business more.

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