<\/p>\n
Professor Lord Mensah, a senior lecturer at the University of Ghana Business School (UGBS), has criticized the government\u2019s handling of the economy.<\/p>\n
The UG lecturer in his critique highlighted the Cedi\u2019s recent struggles against the US dollar.<\/p>\n
Prof. Mensah took to X formally known as Twitter on May 14, 2024, to express his concerns about the country\u2019s economic trajectory.<\/p>\n
He noted that the Cedi\u2019s depreciation directly responds to underlying economic issues that the government has obscured.<\/p>\n
\u201cThe Cedi is now responding to the hidden picture of our economic mismanagement. Too much hope in the dollar now. When you continue to lie about the economy, the exchange rate will expose you,\u201d Prof. Mensah tweeted.<\/p>\n
The Interbank forex rates from the Bank of Ghana as of May 15, 2024, showed that the Ghana Cedi was trading against the dollar at a buying price of 13.7161 and a selling price of 13.7299.<\/p>\n
At a forex bureau in Accra, the dollar was being bought at a rate of 14.50 and sold at 14.85.<\/p>\n
Against the Pound Sterling, the Cedi is trading at a buying price of 17.2590 and a selling price of 17.2777.<\/p>\n
At a forex bureau in Accra, the pound sterling was being bought at a rate of 17.90 and sold at a rate of 18.50.<\/p>\n
The Euro traded at a buying price of 14.8350 and a selling price of 14.8497.<\/p>\n
At a forex bureau in Accra, the Euro went for a buying rate of 15.45 and sold at 15.95.<\/p>\n
\nThe Cedi is now responding to the hidden picture of our economic mismanagement. Too much hope in the dollar now. When you continue to lie about the economy, \u201cthe exchange rate will expose you\u201d.<\/p>\n
\u2014 The Prof (@stigue2001) May 15, 2024<\/a><\/p>\n<\/blockquote>\n
Source:\u00a0<\/strong>www.ghanaweb.com<\/p>\n
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