The governing New Patriotic Party (NPP) has assured that Vice President Dr Mahamudu Bawumia will use Ghana’s gold to stabilise the cedi when voted as President.
According to the NPP’s Director of Communications, Richard Ahiagbah, the Veep has the potential deal with the challenges associated with the depreciation of the cedi to major trading currencies.
Taking to his social media handle, Mr Ahiagbah expressed confidence in Bawumia’s leadership abilities and advocated for his election as President in the upcoming December 2024 elections in Ghana.
“Be Bold with Bawumia. He will use our gold to back the cedi to make it stable. This is a Bold solution to stabilize the cedi. Depreciation will be a thing of the past because the cedi will be sufficiently stable under Bawumia. I pledge to be bold with Bawumia. Have you?” This statement was shared in a Twitter post on April 16, 2024.
Be Bold with Bawumia. He will use our gold to back the cedi to make it stable. This is a Bold solution to stabilize the cedi. Depreciation will be a thing of the past because the cedi will be sufficiently stable under Bawumia. I pledge to be bold with Bawumia. Have you?… pic.twitter.com/BhuvsBGc1B
— Richard Ahiagbah (@RAahiagbah) April 16, 2024
According to the Interbank forex rates provided by the Bank of Ghana on April 16, 2024, the Ghana Cedi is trading against the dollar with a buying price of 12.9907 and a selling price of 13.0037.
Meanwhile, at a Forex bureau in Accra, the dollar is being bought at a rate of 13.35 and sold at 13.65.
In terms of the Pound Sterling, the Cedi is trading at a buying price of 16.1942 and a selling price of 16.2117.
