It will be an understatement to say the Gh Cedi has been left off the hook. The depreciation is felt all over. But the question is, whose duty is it to keep it checked?
I am of the view that all of us are to be involved. I am going to speak from the layman’s point of view since I hold no financial qualification.
If for nothing at all, I have heard two people who usually rant to go viral lambasting the Vice President for letting the Gh Cedi loose because of his comments during the 2016 electioneering campaign. I have realized that it will take all of us to make the Gh Cedi stable.
Previously, I would change all monies I was traveling with before I embark on my journeys. These were done from the forex bureaus and of course the black markets. In those cases, I carried cash to go and spend any time needed.
In a recent trip just this year, all the cash for expenditure was deposited into my bank account and spent with my card through the e-banking platform. All I did was to request the bank to expand how much I could withdraw in a day. To my surprise, the exchange rate was phenomenal. I could not believe it. The rate was far lower than what I saw on the internet and displayed by many.
Why would a whole legislature talk of exchanging money to go and buy things for a contract to be executed when all expected to be done was to let the banks handle it? I hope it was a literal statement but not the real meaning of going to exchange.
Those at the helm of affairs are to blame too. With the advent of promoting a cashless system, the regulator of the state’s currency introduces higher denominations of our spending money. I mean for what reason? Is it not a time for them to rather promote the use of the various mobile money platforms even for international transactions?
Our currency can only be stable when we all get involved to police it even when the regulator fails but not to take advantage of the loophole to our benefits.
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I think he is considering it. This will not change because it will not change.
The main problem with the government is just beautiful.
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You made some good points there. I did a search on the issue and found most guys will go along with with your blog.
Hello just wanted to give you a quick heads up and let you know a few of the pictures aren’t loading correctly. I’m not sure why but I think its a linking issue. I’ve tried it in two different browsers and both show the same outcome.