While the Ghanaian cedi has recently shown signs of recovery against the US dollar, don't expect spare parts prices at Abossey Okai to drop just yet.
Traders at the popular auto hub say it's not that simple.
According to many dealers, the spare parts currently on their shelves were imported when the dollar was much stronger, so slashing prices now would mean selling at a loss. "For now, maybe it can't be possible," explained Francis Appiagyei, one of the dealers. "We ordered the goods at a certain rate which is higher than what we are seeing now.
When we sell those and order new stock at the reduced rate, then prices can come down." Yaw Ansong didn't mince words either. "I haven't ordered new ones so I can't reduce the price.
