Consar Limited and Michelletti Company limited deny knowing Woyome posted Yesterday at 16:56
Hope City now moved to Prampramposted Today at 11:01
Expresso more focused on data services -CEOposted Yesterday at 15:37
Public Hearing on Newmont’s Ahafo Mill expansion Project laudedposted Yesterday at 14:26
Voltic supports education NGOposted Today at 11:00
ACEP commends Ghana’s impressive performance on 2013 RGIposted Yesterday at 13:41
Gov’t Squeezes CSIRposted Yesterday at 16:54
First credit ratings agency likely to begin operations in Ghana this year posted Yesterday at 16:57
Finance Ministry to seek parliamentary approval for Ghana’s second Eurobond auction posted Today at 13:13
Major mergers, acquisitions to engulf insurance sector in coming months posted Yesterday at 14:34
Government expects cedi to stabilize in few weeks backposted on Thu, 10 May at 08:15
The local currency continues to depreciate in value despite new measures by the Bank of Ghana to stabilize it.
But speaking at the Ghana EU–Partnership meeting Wednesday, John Mahama says the decline should soon be over.
“Recently there’s been concerns about the depreciating value of the cedi and the Bank of Ghana and the Ministry of Finance have worked together to take appropriate measures to mop up excess liquidity and to increase revenue and thereby ease the pressure on the cedi,” Mr Mahama said.
“And so I know in the next few weeks we are going see some action in this regard.”
“And we will see fair stabilization of the cedi in relation to the dollar; we think that an exchange rate anywhere between of 1.65 and 1.70, is a fair value and government will work to achieve,” he added.
The cedi has gone down by almost 14 percent from January to date.