Some Ghanaian exporters have expressed worry over the continuous appreciation of the cedi against the US dollar, warning that the trend could negatively impact their inflows and revenue margins.
Their concern, is coming at time, the local unit has been named the world’s best-performing currency, having appreciated nearly 16% against the US dollar since April 2025.
Speaking on Business Live on the Joy News channel, an exporter George Kporye, said a stable exchange rate would help to boost their revenue margins and ensure the sustainability of their businesses.
“I mean we all want stability, all businesses want stability. And that is what business requires. I think at the appropriate time, when this trend continues there would be the need to provide some stability for businesses”.
He expressed concerns the sharp appreciation of the cedi strengthens will make the export of goods less competitive for Ghanaians.
Mr. Kporye further called on government and the Bank of Ghana to take measures to stabilize the forex market to help exporters in planning.
“Government would have to find ways and means of cushioning exporters from this significant drop in their income”.
In recent weeks, the cedi has recorded significant gains against major trading currencies. The interbank rate currently stands at GH¢13.29 to the US dollar, a notable improvement from over GH¢16 earlier this year.
As of the latest check, it was trading at GH₵13.70 to the dollar a significant improvement that has brought a sense of relief and cautious optimism across the country. This had drawn praise from businesses and policymakers alike.
The Ghana Union of Traders Association (GUTA) has directed its members to reduce prices of their goods as a direct response to the impressive run of the cedi over the past few weeks.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
