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Ghana's forex crackdown causes cedi to drop to ¢12.95, sparking fears of fuel price hikes.
A crackdown on black market forex dealers in Ghana has triggered sharp, unpredictable swings in the cedi’s value, with the currency briefly weakening to ¢12.95 amid reduced foreign exchange availability.
The Chamber of Petroleum Consumers warns the Bank of Ghana must act quickly, as current interventions are insufficient to meet the $400 million daily forex demand, risking further cedi depreciation and immediate fuel price hikes.
The group urges a reassessment of enforcement tactics, arguing that aggressive raids may worsen volatility by disrupting informal forex liquidity, and calls for a more measured approach to stabilize the market.
La represión cambiaria de Ghana hace que el cedi caiga a ¢12.95, provocando temores de aumentos en los precios del combustible.