A leading member of the New Patriotic Party (NPP), Gabby Asare Otchere-Darko, has welcomed the recent recovery of the Ghana cedi against the US dollar, describing it as a positive development he hopes will last.
In a social media post on Saturday, May 17, the founder of the Danquah Institute said he is pleased with the cedi’s upward trend and believes it reflects growing confidence in Ghana’s economic management.
“I am delighted to see the cedi regaining strength against the dollar and long may it continue,” he wrote, adding, “We pray that it is not just temporary.”
The Ghana cedi has shown signs of stability in recent weeks, with a buying rate of GHS12.21 per dollar and a selling rate of GHS13.00 as of Saturday, May 17, 2025.
According to figures from Cedirates.com, at forex bureaus, the cedi is trading at GHS13.00 for those exchanging dollars for cedis, and GHS13.65 for those converting cedis to dollars.
Mr Otchere-Darko pointed to the Gold-for-Forex policy introduced under the leadership of former Vice President Dr Mahamudu Bawumia as a key driver of the turnaround, noting that other African nations are now adopting similar strategies.
“Today, the Bawumia Formula of Gold for Forex has become the gold standard, so to speak. Other gold-producing African nations, including recently Namibia, are adopting it,” he stated.
He urged Ghanaians to move beyond partisan lenses when it comes to economic progress and called for a more constructive form of political competition that puts Ghana first.
“If it works, it works for all of us and the capacity of businesses to create jobs and spread prosperity. Let us get to the stage where we elevate our political competition to not praying for your failure as the only route to my success,” he added.
