Emmanuel Wilson Junior, Chief Crusader of Crusaders Against Corruption-Ghana has shared his experience with how the Ghana Cedi depreciated against the dollar at a huge margin in a space of some few hours.
A development which would have occurred in a duration of months to years is happening in a space of hours now.
Speaking on Onua TV/FM’s Maakye Thursday, October 20, 2022, Mr Wilson disclosed he had communicated with a forex trader on for the value of the Cedi to the dollar at 1pm which “he said it was ₵12.60. Then at 6pm, I called and asked him, that if I have a Cedi and I want to buy the dollar, how much is it? And he said ₵13.10. This morning, I called him again and asked and he said it’s ₵13.80. So just look at how fast the dollar is running.”
“Meanwhile, anytime the dollar moves an inch, every business minded person knows it affects every commodity because the dollar is the major currency in terms of trade,” he added.
Source: Onuaonline.com|Ghana
