Executive Director of Dalex Finance, Joe Jackson, has absolved forex traders of blame for the depreciation of the Cedi, saying the local currency is plummeting as a result of poor fiscal policies by leadership.
He says the dollar always appreciates at the expense of the cedi due to the scarcity of the other resulting from excessive importation.
After getting its foreign exchange, Mr. Jackson says the nation virtually imports with everything it receives from its exports, making the demand for the dollar exceed supply to cause the cedi’s depreciation.
Speaking with Yaa Titi Okrah on Onua TV’s Maakye Thursday, May 30, 2024, he questioned if “you’ve seen any forex broker purchase a plane before?”, after explaining the mechanism of trading forex.
Watch him speak to the host from 8th minute.
