President Nana Addo Dankwa Akufo-Addo is appealing to the business community to reduce the prices of goods and services as the cedi regains its strength.
The Ghana cedi in the past week has gained some significant strength against the US dollar with prices of fuel also recording substantial reduction.
According to the Bank of Ghana, the local currency is currently trading at GH¢8 on the interbank market with a litre of petrol and diesel selling at GH¢13 and GH¢16 respectively.
In view of this, President Akufo-Addo says, it is just fair for prices of goods and services to be reduced, taking into consideration, the gains the cedi is recording.“I add my voice to those of GUTA, GRTCC and others, to appeal to manufacturers, traders and transport operators, that with the height of the cedi’s recent depreciation and increased prices of goods and services, to reduce their prices of goods and services now that the cedi is regaining much of its strength. I believe this is not only a fair request but also a just one.”
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Source: citi newsroom.com
