Information reaching Rainbowradioonline.com indicates that the United States Embassy in Ghana is still pegging the dollar rate at Ghc16 to a dollar despite the appreciation of the cedi in visa fees.
Some applicants who have applied for visas at the Embassy are being asked to pay Ghc16 cedis to a dollar.
The applicants are worried and demanding answers as to why the Embassy in Ghana will still peg their rate at the old rate despite the gains made against the dollar by the cedi.
The applicants, who wish to remain anonymous, have asked the Minister in charge of Foreign Affairs, Samuel Okudjeto Ablakwa, to intervene and have the Embassy make the necessary adjustments to reflect the latest gains made.
Additionally, the rate for sending money from the USA to Ghana is pegged at Ghc11.50. The Ghana cedi has been designated as the world’s best-performing currency this month, after appreciating nearly 16 percent against the US dollar since the start of April 2025.
Performance of the Cedi
According to Bloomberg, the gains made by the cedi have contributed to easing inflationary pressures, contributing to Ghana’s lowest inflation rate in eight months.
The African Development Bank (AfDB) has applauded Ghana’s progress, with a recent report stating, ‘Ghana’s macroeconomic stabilization efforts, including fiscal consolidation and monetary policy tightening, are yielding positive results, contributing to the cedi’s appreciation and moderating inflation.’
However, it cautioned that drastic structural reforms are needed to help diversify Ghana’s economy and make it less susceptible to external shocks.
According to the AfDB, increased regional integration and trade liberalization under the African Continental Free Trade Area (AfCFTA) could further boost the positive impact of a stronger cedi on Ghana’s trade balance and economic growth.
By: Rainbowradioonline.com/Ghana
