Executive Chairman of AB & David Law, David Ofosu-Dorte, has raised concerns about the potential for large-scale dollar dumping in Ghana's financial markets as the cedi continues its recent appreciation against the US currency.
The warning comes amid mixed reactions to the pace of economic adjustments following the cedi's recovery.
Speaking during an analysis segment on the Joy FM Super Morning Show on Tuesday, May 27, Mr Ofosu-Dorte noted: "I have a certain fear - if the dollar goes below a certain point, it may lead to a dumping of the dollar by financial institutions who hold large dollar reserves.
We need to identify a stabilisation point to prevent market disruption." The cedi has recorded a remarkable performance against major international trading currencies, particularly a 22% appreciation since January 2024.
