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September 12, 2018 | Business & Finance

Joy Fm Cedi Forum: Stemming Tide Of Depressing Cedi Depreciation

MyJoyOnline
Joy Fm Cedi Forum: Stemming Tide Of Depressing Cedi Depreciation

The local currency which has been depreciating fast in the last few months and there has been a lot of proposals on how to stem the tide.

The Ghana cedi trades on the interbank market at ¢4.94 to $1 and sells at ¢5 on the black market eating away the capital of exporters, importers and automobile spare parts traders.

In an interview with Joy Business, Economist and Senior Lecturer at the Economics Department of the University of Ghana, Dr Eric Osei-Assibey, had said the activities outside the main banking and forex sector must be checked.

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“We need to develop some new forex policies which will strengthen the fix management system. I think as it stands now our fix management is quite loose.

“And there are too many activities outside the main banking sector. The black market that has been created is to be blamed for the cedi’s volatilities as well,” he added.

Against this backdrop, Joy FM brings to its listeners “The Cedi Forum” on Thursday, September 13 at 6 pm.

Themed on ‘Ghana’s depressing cedi depreciation: How do we stem the tide?’, the Forum comes off at the Economics Department of the University of Ghana.

Make a date.

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