'Cedi has regained lot of respect; people are no longer pricing in dollars' — Mahama

President John Dramani Mahama has commended the Governor of the Bank of Ghana and the Minister for Finance for the improved performance of the Cedi in recent months.

According to him, unlike previous years when many traders and service providers preferred quoting prices in dollars, the local currency has now regained significant respect and stability.

Speaking at the Cedi@60 International Currency Conference in Accra on Tuesday, November 18, President Mahama urged the central bank and the finance ministry to sustain the measures that have strengthened the Cedi.

“In the past, if you were going to buy a car or even basic items, people preferred to quote in dollars. Today, people are more confident to price in Cedis, and that shows the strength our currency is beginning to regain,” he said.

“A lot of respect has returned to our currency, and it is my hope that whatever you are doing to keep the Cedi stable will continue,” President Mahama added.

The President noted that this renewed confidence reflects improved economic management and better currency stability.

He added that the government’s commitment to prudent measures is easing the pressure that previously pushed businesses to rely on foreign currencies.

The two-day conference has brought together policymakers, currency experts and financial sector actors to reflect on the journey of the local currency and discuss strategies for strengthening its role in the digital and global financial future.