There has been a lot of outcry about the fall of the cedi and its political implications. Several factors go into the stability of one currency against the other.
Vice President Bawumia has been quoted as saying that the fundamentals of an economy determine the performance of that currency. This short article will not go into that debate.
It is worth noting that the Dollar has risen against most currencies the cedi included.I must confess it is not gratifying that the Cedi should fall against the dollar under any circumstances, however, for the sake of Leadership let us compare how the Cedi has done under Mahama and Akuffo Addo.
Let’s look at the Bank of Ghana Data
7th Jan 2014, buting rate of the Dollar to Cedi 1.5700
26th Feb 2016, buying rate of the Dollar to Cedi 2.5074
Rate of Decline 62.18%
7th Jan 2017 buying rate of the Dollar to Cedi 4.2141
26th Fed 2019 buying rate of the Dollar to Cedi 5.0976
Rate of Decline 20.96%
Using Bank of Ghana Information, The CEDI does far BETTER under Akuffo Addo than MAHAMA despite the apparent decline.