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RADP / Pulse Ghana  >  news  >  business

Cedi predicted to tumble GH¢4.7 to a dollar

Abu Mubarik

The cedi is expected to fall GHC4.7 to a dollar due to "the re-emergence of the seasonal pressures and elevated external risks," an economic analyst at Databank, Courage Kingsley Martey has said.

 
 

Cedi predicted to tumble GH¢4.7 to a dollar

According to him, businesses will be looking at restocking goods sold during the festive season which will lead to an increased demand for foreign currencies.

This he said will lead to the fall of the cedi.

Utility tariffs "incredibly outrageous" - Spio-Garbrah

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The Minister for Trade and Industry, Mr Ekwow Spio-Garbrah, has made a rare criticism of the recent utility tariffs hikes on his first radio interview on the matter.

He described the hikes as "incredibly outrageous."

According to him, the increments were unjustifiable especially in an election year.

We go to the currency market now where

Currency                      Buying                         Selling

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Dollar                             3.82                             4.12

Pound Sterling               5.49                             5.79

Euro                              4.14                             4.44

To updates from the stock exchange today

There were no losers for the day… whereas SIC Insurance Comany Limited recorded the biggest gains, gaining 1p  to close at 0.18p.

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Abu Mubarik Abu Mubarik Abu Mubarik is a writer at Pulse Ghana with special interests in Ghana politics, international relations and geopolitics.

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