Member of Parliament for Walewale, Tia Abdul-Kabiru Mahama, has urged the government to focus on preserving currency stability rather than aiming for further appreciation.
Speaking on Channel One TV's The Big Issue on Saturday, May 17, he argued that the currency's upward performance appears to have plateaued and that any hope of a significant drop in the exchange rate may be unrealistic without major intervention. "There is no way we can have a further appreciation of the cedi, and if you observe the movement from Tuesday, it has not moved as fast as it was.
Even if you look at today, it is going up.
From yesterday, it was 12.40 and this morning it has gotten to 12.44. "So it has gotten to its best performing point.
