President has stated that projections suggesting the cedi could strengthen to GH¢4 to the dollar are unrealistic.
According to him, a fair and sustainable exchange rate lies between GH¢10 and GH¢12 to the dollar, a range he says better supports Ghanaian exporters.
Speaking at a meeting with the Federation of Associations of Ghanaian Exporters (FAGE), President Mahama acknowledged the recent strengthening of the local currency but cautioned that an overly strong cedi could harm the competitiveness of Ghana's export sector. "Some people say the cedi could fall to GH¢4, but we know the true value is not there.
If it drops that low, it will kill all export businesses," he stated.
