Archbishop Nicholas Duncan-Williams has spiritually “commanded” the falling cedi to “rise”.
Leading his followers, in Church today (Sunday), to pray for the recovery of the fast depreciating local currency, the Presiding Bishop and General Overseer of the Christian Action Faith Ministries (CAFM) headquartered in the national capital, Accra, said: “…I hold up the cedi with prayer and I command the cedi to recover and I declare the cedi will not fall; it will not fall any further. I command the cedi to climb. I command the resurrection of the cedi. I command and release a miracle for the economy”.
The cedi has already depreciated by three per cent against the major international currencies this month.
The US dollar, which sold at Ghc2.20 on the local foreign exchange market before Christmas last year, now sells at Ghc2.60.
The British pound, which sold at Ghc3 now sells at Ghc4.20.
The euro and CFA are also selling at Ghc3.50 and Ghc4.80 respectively.
In 2013, the local currency suffered 17-per cent depreciation.
The year-on-year depreciation shows a 21.96 per cent depreciation of the cedi against the dollar; 28.88 per cent against the pound sterling; 23.98 per cent against the euro and 25.54 per cent against the Swiss franc.
The Bank of Ghana recently injected $20 million into critical areas of the economy as part of efforts to shore up the cedi.
Archbishop Duncan-Williams also led his church to pray for President John Mahama, Finance Minister Seth Tekper and Central Bank Governor Dr Henry Kofi Wampah, for divine help and guidance to salvage the cedi.
“In the name of Jesus, say Satan take your hands off the President; take your hands off the Central Bank and the Finance Minister. Say we release innovation for the President, my God, the Governor of the Bank of Ghana, Central Bank, in the name of Jesus Christ the son of God, the Finance Minister. Say we command new ideas, breakthroughs and a miracle for the economy. Let the cedi rise in Jesus name”, he led in prayer.