The Member of Parliament (MP) of Yapei-Kusawgu Constituency, John Abdulai Jinapor, said he foresees the Cedi stabilising in 2023.
The former Deputy Power Minister said, however, that the Cedi will not improve as a result of prudent economic measures by government but as a result of worsening financial crunch.
He said most Ghanaians, due to the crunch, will shy away from spending because there will be lack of cash in the system and they will be plunged into abject poverty.
He, therefore, said the economic crisis will be more biting next year and there will be a lot falling below the poverty line.
He said this while speaking on the Keypoints on TV3/3FM on Saturday, December 10.
This comes after the Bank of Ghana, as of December 8, 2022, showed that the Ghana Cedi is trading against the dollar at a buying price of 12.8936 and a selling price of 12.9065. As compared to the previous trading of a buying price of 13.0968 and a selling price of 13.1100.
The Interbank forex rates from the Bank of Ghana today, December 8, 2022, have shown that the Ghana Cedi is trading against the dollar at a buying price of 12.8936 and a selling price of 12.9065.
As compared to the previous trading of a buying price of 13.0968 and a selling price of 13.1100. At a forex bureau in Accra, the dollar is being bought at a rate of 12.70 and sold at a rate of 13.60.
Against the Pound Sterling, the Cedi is trading at a buying price of 15.7404 and a selling price of 15.7588 as compared to yesterday’s trading of a buying price of 15.9926 and a selling price of 16.0112.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 15.75 and sold at a rate of 16.80.
The Euro is trading at a buying price of 13.5565 and a selling price of 13.5711 as compared to yesterday’s trading of a buying price of 13.7974 and a selling price of 13.8123.
At a forex bureau in Accra, Euro is being bought at a rate of 12.70 and sold at a rate of 13.80.
The South African Rand is trading at a buying price of 0.7530 and a selling price of 0.7536 as compared to yesterday’s trading of a buying price of 0.7535 and a selling price of 0.7542.
At a forex bureau in Accra, South African Rand is being bought at a rate of 0.65 and sold at a rate of 1.10.
The Nigerian Naira is trading at a buying price of 34.4109 and a selling price of 34.5202 as compared to yesterday’s trading at a buying price of 33.8492 and a selling price of 33.9858.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 16.00 Naira for every 1 Cedi and sold at a rate of 20.50.
For the CFA, it is trading at a buying price of 47.7192 and a selling price of 47.7706.
At a forex bureau in Accra, CFA is being bought at a rate of 18.50 CFA for every 1 Cedi and sold at a rate of 23.50 CFA for every 1 Cedi.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.