The Ghana Union of Traders’ Associations (GUTA) is asking traders to consider reducing prices of items on the market as the cedi appreciates against the dollar.
The local currency made significant gains against the dollar last week. The cedi advanced Friday to 12.9648 per dollar, the strongest level since October on a closing basis.
“As the value of the cedi begins to appreciate, GUTA wishes to appeal to members of the business community to also adjust prices of goods and services accordingly,” President of GUTA, Dr. Joseph Obeng said in a statement.
The move, he underscored, would make the “consuming public feel the impact of this positive trend”.
His statement appreciated the efforts being made by the government and the Bank of Ghana to stabilize the Cedi.
He therefore urged the government to continue with more efforts to sustain the program and bring relief to the business community.
“We hope to see further and continuous appreciation of the Cedi and envisage that the economy will turn around in the shortest possible time.”
