BAWUMIA RELEASES THE CEDI AGAINST DOLLAR DEPRECIATION FROM IGP’s CELL TO CAUSE HAVOC TO OUR BUSINESS TRADERS

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As business activities became sluggish during the week, the cedi is also reported to have witnessed unprecedented depreciation against the dollar the history of our economy.
Currently, the cedi which was trading between GH¢4.50 pesewas per dollar a couple of weeks ago now trades over GH¢5.00 per dollar at the forex market.
Traders at Abossey Okai believe probably, the surge may come as a result of the Kofi Annan’s funeral ceremony.
“Vice President Alhaji Dr. Mahamudu Bawumia recently told the country that the cedi depreciation against the dollar has been arrested, put in the cells and keys handed over to the IGP, so we want to find out from our big man whether he has released the cedi from cells to come and witness the burial ceremony of Kofi Annan just for this week and go to the cell?” they ask.
“The sharp depreciation of the cedi against the dollar within the week, at same time of Kofi Annan’s funeral ceremony is beyond comprehension and we need immediate answers from the vice president and solutions too because it has thrown our businesses over board,”
“Now that the funeral is over we are giving the vice president one week to re-arrest the cedi depreciation to the cells again and hand over the keys to IGP if it came to witness the burial ceremony of the global icon otherwise we will shut down our shops,” they warned.
Meanwhile, officials of the Bank of Ghana have attributed the sharp depreciation of the cedi against the dollar to international forces, says until the situation changes at the international level there is little they could do to stabilize the cedi.