Pegging dollar at GHc5.8 is a fantastic idea-Institute of Freight Forwarders


A Council member of the Institute of Freight Forwarders, Dr. Yaw Adu Jack, has described as fantastic the decision by government to peg the dollar at GH5.8.

Speaking to Kwabena Agyapong on Rainbow Radio 87.5Fm, Dr. Adu Jack said the move would allow importers to plan their imports.

He also explained the pegging was done in terms of duties and taxes and not general trading activities.

To him, importers would be relived especially when their imports delay since they would not be affected based on the quarterly pegging adopted.

He said, this is a fantastic idea. This is a good idea and I must commend the Ghana Revenue Authority (GRA).

The Ghana Revenue Authority (GRA) says it has begun the implementation of a fixed exchange rate regime at the country’s ports.

The Commissioner General of GRA, Emmanuel Kofi Nti disclosed the dollar has been pegged at GH¢5.08 at the port for the purposes of trading for the next three months.

Mr Kofi Nti was speaking in interaction with Spare Part Dealers during a tour at Abossey Okai in Accra, on Wednesday.

He said, “We got the directive on a fixed exchange rate for your trading purposes at least for the next three months. I can assure you that the rate has been pegged at GH¢5.08 for the next quarter until another review is done.”

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