Stonebwoy asks why costs of products don’t correspond with cedi appreciation

In accordance with specialists, the cedi has risen greater than 20% in worth in opposition to main foreign currency, particularly the US greenback, in lower than per week.

Nevertheless, because the cedi began making enhancements in opposition to the most important worldwide currencies, particularly the greenback, the price of residing that went excessive attributable to this has not seen a lower and one of many individuals complaining is Stonebwoy.

Stonebwoy took to his official Twitter to query why issues stay the identical available in the market, even if the Cedis are at the moment appreciating in opposition to the greenback.

Why be say Greenback charges leveling down properly.. however costs of products and companies no dey gree to degree with it.. You dey really feel am?? Stonebwoy tweeted.

The newest information from the Financial institution of Ghana (BoG) signifies that the Ghana cedi is as of Friday, December 16, 2022, promoting at ¢7.99 and shopping for at ¢8.00

In October 2022, the cedi, which misplaced 45.1% of its worth in opposition to the US greenback in 2022, has since turn into the worst-performing forex globally.

In response to the federal government’s negotiations with the Worldwide Financial Fund (IMF), which can contain debt restructuring, the cedi fell 3.3% on Monday, buying and selling at 11.2750 to the greenback in Accra, Ghana.