President John Dramani Mahama has stated that a cedi exchange rate of GHC4 to $1 is an unrealistic projection.
He stated that a more sustainable projection will be between Gh₵10 and GHC12 to $1.
He was responding to projections suggesting the cedi could strengthen to GHC4 to the dollar, insisting that it is unrealistic.
President Mahama believes the realistic figure he suggested better supports Ghanaian exporters.
He made the remarks during a meeting with the Federation of Associations of Ghanaian Exporters on Tuesday, June 3, 2025.
“Some people say the cedi could fall to GHC4, but we know the true value is not there. If it drops that low, it will kill all export businesses,” Mahama stated.
He revealed that following strategic consultations with the finance minister and the governor of the Bank of Ghana, the real cedi value has been pegged between the GHC10 and GHC12 band.
He added that recent developments, including the latest foreign exchange auction, had already moved the exchange rate above GHC10.
He admonished exporters to take full advantage of the more favourable rate.
“Cheaper fuel, lower port charges, and reduced raw material costs should drive production and improve competitiveness,” he said.
He added, “Let us not miss this opportunity to re-engineer our economy to favour made-in-Ghana goods.”
By: Rainbowradioonline.com/Ghana
