The Cedi was buying at 10.8946 to a dollar and selling at 10.9055 per the rate from the Bank of Ghana (BoG) on Monday, November 3.
The Pound was buying at 14.2926 and selling at 14.3080. The Euro bought at 12.5605 and sold at 12.5729.
The government attributed the gains in the local currency to fiscal discipline.
In a statement to mark the 60th anniversary launch of the Cedi, the Finance Minister, Dr Cassiel Ato Forson said that “Our strong commitment to fiscal discipline has contributed to the strengthening of the currency.
“We remain committed, and we shall stay the course to ensure that the Cedi’s gains are maintained. As citizens, we have a role to play. We must maintain the sanctity of the Cedi as a legal tender, by preserving it with dignity and protecting it jealously. We must all be vanguards of its value by eschewing acts that seek to undermine its value, particularly the pricing of goods and services in foreign currencies.”
He added “Let me use this opportunity to remind Ghanaians that the US dollar is not our currency. The continuous pricing of goods and services in US dollar will only hurt us. Let’s stop it! The Cedi is the only currency we have. Let us protect it. Let us trade with it. Let us defend it. Let us talk about it with pride, not as a burden, but as a badge of economic independence.”
Source: 3news.com
