From ending 2024 at $1 to GH₵14.70, the cedi has appreciated nearly 30% in the first five months of this year, currently trading at $1 to GH₵10.30.
That's the strongest level the cedi has reached in over two years, and the sharpest appreciation over this period since 2010.
This very impressive run, which doesn't look like it's ending soon, has triggered exuberant calls for the cedi to reach parity with the dollar i.e. $1 to GH₵1.
Even President Mahama has waded in, stating: "I don't envisage that the currency will come down to sell at GH₵1 to $1.
