The Overlord of Dagbon, His Royal Majesty Yaa Naa Abukari Mahama II, has commended President John Mahama for his appreciation of the Ghanaian cedi.
Dr. Jacob Mahama delivered the message during a courtesy call on Friday, June 13. He said the stronger cedi would support household budgets and strengthen the national economy.
“The drastic drop in the dollar ratio from Gh₵17 to Gh₵11 in less than six months is a remarkable achievement that speaks volumes about your administration’s commitment to prudent economic management,” the chief told the president.
“This significant reduction is not merely a numbered game; it reflects a deliberate effort to stabilise the economy, boost confidence in the cedi, and create a favourable environment for investment and growth,” he added.
Data from the market shows the cedi trading around GH₵10.25 to the US dollar on the interbank market. This is the strongest level in several years. The mid-market rate stands at about $0.0986 to GH₵1.
In late 2024, the cedi had fallen to nearly GH₵16 per dollar. The recent gains show renewed investor confidence.
Observers see this recovery as one of the key economic wins under Mahama’s leadership.
A stronger cedi is expected to reduce the cost of imports, ease inflation, and support long-term growth.