Pricing Of Goods In U.S Dollars Keeping The Ghana Cedi Fall – Prof Gyampo

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U.S Dollars and Ghana Cedi
U.S Dollars and Ghana Cedi

A senior Lecturer in the University of Ghana and a Social critic, Prof. Ransford Gyampo has attributed the depreciation of the cedi to the attitude of pricing our goods in the US dollars.

His comment is in effect to the current continuous depreciation of the cedi which is currently traded at GHS 8 and even more in some forex markets,

In his view, Ghanaian business Gurus and the government itself are to be blamed because they always price goods in the US dollars without going in line with the law against pricing of goods in the US dollars, of which has made the cedi idle and unable to compete with the US dollar.

In his post he wrote, “The cedi will continue to depreciate terribly so long as we keep the law against pricing of goods in US Dollars on the shelve and allow it to gather dust. Countries doing well in all the world keeps to their own currency.”

He added that, all well-to-do countries in the world uses their own currency for internal and external transactions meaning for our cedi to regain value, we have to abide by the rule against pricing of  goods in the US Dollars.

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