In the wake of the appreciation of the Ghana Cedi against the Dollar and other major trading currencies, speculators have been expecting the dollar to appreciate soon.

In a post by Yayra Korku sighted by GhanaEdcuation.org, he called on individuals who have dollars to hold on to it “Don’t rush to change your dollars, wait” he indicated adding that the exchange rate was going to rise and people who dispose off their hard currency now will loose money.

Days after publishing the above, his new post on the Cedi and Dollar battle said…

The recent appreciation of the Ghana Cedi has been described as very volatile globally as the government looks forward to a $3 billion IMF bailout.

Do you see where the dollar is running to? Nothing artificial can survive. It is just a matter of time.

We have a useless government that believes in TRY YOUR LUCK.

The most painful thing is traders didn’t reduce their items when the price came down. Now that it is rising again, they will increase their products.

Below is the full message he posted on his Facebook wall.

Wait…

Please don’t rush to change your dollars; else, you will lose money like the way some of us have lost money because of debt restructuring.

The appreciation of the cedi is normal because we are in Xmas, and there is no pressure on the cedi. Mid-January is coming soon, and we will see if they will blame it on the Russia-Ukraine war.

They are quoting 9.50 to deceive you. That is the buying rate (dollar to cedi). The selling rate is what we always refer to (cedi to dollarr) and that is above 12.50

An Appreciation of the Cedi that is not linked to a reduction of services and products is meaningless.

To support the digitization of the Ghana Police Service and the fight against crime, today, I presented over $2 million worth of mobile identification devices and a Mobile Device Management System to the Ghana Police Service donated by the Margins Group, an indigenous Ghanaian Identity Systems Company.

These mobile devices and systems will capture the unique biometric and biographic information of individuals, verify vehicle registration, drivers license, road worthiness certificate and insurance, and match the data against other databases including the National Identification Authority’s database.

The devices will give police officers real- time access to data on individuals, vehicles, criminal histories etc. and therefore help in the fight against crime.