GUTA commends BoG Governor over the Cedi's gain against major trading currencies

The Ghana Union of Traders’ Associations (GUTA) has commended the Governor of the Bank of Ghana and his squad for the measures enactment successful place, which person led to the Cedi gaining spot against large trading currencies.

According to GUTA, this affirmative inclination has brought a level of respite and renewed assurance successful the economy.

In a connection signed by its President, Dr. Joseph Obeng, and Head of the Business and Economic Bureau, Charles Kusi Appiah Kubi, GUTA applauded the Governor for this achievement, adding that it has brought anticipation to the concern community.

"We privation to highly commend the Governor and his squad for efficiently managing the forex marketplace to this extent. We judge that the fiscal subject adopted by the Government has besides contributed to this achievement.

"This has brought anticipation to the concern assemblage successful recouping immoderate of the superior mislaid implicit the past mates of years.

Importantly, it has besides fostered affirmative speculation and predictability wrong the overseas speech market, thereby eroding the conception that overseas currency is simply a store of worth successful the Ghanaian community."

GUTA consequently encouraged the Government, particularly the Central Bank, to proceed with this laudable effort.

"These prudent measures, if sustained, volition pb to afloat economical recovery, heighten concern competitiveness, summation productivity, and alleviate the precocious outgo of surviving successful the country," the connection added.

The Ghana Cedi started the week connected a losing streak contempt a monolithic summation successful April 2025.

The section portion sold astatine GH¢14.60 to 1 American greenback successful the retail market.

It, however, went for GH¢13.65 to 1 US dollar successful the interbank market.

The section portion is presently among the top-performing currencies successful Africa this year, signaling implicit 7% appreciation since January 1, 2025. The CFA, utilized by Francophone West African countries is the champion performing currency successful Africa truthful acold this year

All things being equal, the section portion would stay unchangeable successful May 2024.

KA