{"id":1229700,"date":"2022-10-20T11:38:43","date_gmt":"2022-10-20T11:38:43","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/10\/20\/we-are-on-course-to-go-past-%c2%a215-to-a-dollar-prof-bokpin\/"},"modified":"2022-10-20T11:38:43","modified_gmt":"2022-10-20T11:38:43","slug":"we-are-on-course-to-go-past-%c2%a215-to-a-dollar-prof-bokpin","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/10\/20\/we-are-on-course-to-go-past-%c2%a215-to-a-dollar-prof-bokpin\/","title":{"rendered":"&#8216;We are on course to go past \u00a215 to a dollar&#8217; &#8211; Prof Bokpin"},"content":{"rendered":"<p><\/p>\n<div id=\"article-text\">\n<p>An Economist, Professor Godfred Alufar Bokpin says the Ghanaian cedi is on course to exchange 15 to a dollar before the end of the year.<\/p>\n<p>According to the Professor, the depreciation of the local currency will not stabilise anytime soon.<\/p>\n<p>However, he has urged Ghanaians to be calm about the situation.<\/p>\n<p>Speaking on <strong>Joy FM\u2019s Super Morning Show<\/strong> on Thursday, Professor Bokpin told host, Winston Amoah that Ghanaians need not engage in panic withdrawals.<\/p>\n<p>He explained that it will worsen the plight of the cedi.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"428\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/10\/Godfred-Bokpin.jpg\" alt=\"'We are on course to go past \u00a215 to a dollar' - Prof Bokpin\" class=\"wp-image-10032102431 lazy\"  data- title=\"'We are on course to go past \u00a215 to a dollar' - Prof Bokpin\"\/><figcaption>Economics and Finance lecturer at the University of Ghana Business School (UGBS), Professor Godfred Alufar Bokpin<\/figcaption><\/figure>\n<p>\u201cWe are on course to go past GH\u00a215 to a dollar and here, I will urge calm to my fellow Ghanaians. We only have one country.<\/p>\n<p>\u201cLet\u2019s not cannibalise on the situation. Let\u2019s come on board and let\u2019s exercise the necessary restraint and calm. We don\u2019t need to do panic withdrawals.\u201d<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"400\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/09\/Bokpin.jpg\" alt=\"'We are on course to go past \u00a215 to a dollar' - Prof Bokpin\" class=\"wp-image-10031973450 lazy\"  data- title=\"'We are on course to go past \u00a215 to a dollar' - Prof Bokpin\"\/><figcaption>Economics and Finance lecturer at the University of Ghana Business School (UGBS), Professor Godfred Alufar Bokpin<\/figcaption><\/figure>\n<p>Some analysts have already predicted that the Cedi will hit GH\u00a220 to the dollar before the end of the year.<\/p>\n<p>Currently, the fast depreciation of the Ghana cedi is in full force with no end in sight as the local currency is \u00a213.75 to a dollar.<\/p>\n<p>This is equivalent to about 12% depreciation in only four days of this week.<\/p>\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-myjoyonline-com wp-block-embed-myjoyonline-com\"\/>\n<p>The local currency is also depreciating faster than the pound and euro. It is selling presently at about \u00a214.05 to the pound and \u00a212.10 to the euro.<\/p>\n<p>Checks by Joy Business at some top forex bureaus in the capital, Accra, indicate that there is an acute shortage of US dollars.<\/p>\n<p>The free fall of the cedi has already triggered protests by some traders who claim their cost of doing business has been surging week-on-week.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"533\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/10\/Photo-Credit-David-Andoh-12-11-1.jpg\" alt=\"'We are on course to go past \u00a215 to a dollar' - Prof Bokpin\" class=\"wp-image-10032192034 lazy\"  data- title=\"'We are on course to go past \u00a215 to a dollar' - Prof Bokpin\"\/><\/figure>\n<p>For instance, members of the Ghana Union of Trade Association (GUTA) have closed their shops to pinch the government to address the situation.<\/p>\n<p>The protest will continue until Monday, October 24.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>An Economist, Professor Godfred Alufar Bokpin says the Ghanaian cedi is on course to exchange 15 to a dollar before the end of the year. According to the Professor, the depreciation of the local currency will not stabilise anytime soon. However, he has urged Ghanaians to be calm about the situation. Speaking on Joy FM\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1229702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[13734,4219,2280],"class_list":["post-1229700","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bokpin","tag-dollar","tag-prof"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1229700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1229700"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1229700\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1229700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1229700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1229700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}