President John Mahama has projected that the Ghana cedi will stabilize within a band of GH¢10 to GH¢12 against the US dollar, describing it as a fair value to support both exporters and importers while maintaining macroeconomic stability.
Speaking at a meeting with the Federation of Association of Ghanaian Exporters (FAGE), the president acknowledged recent currency appreciation but cautioned against an excessively strong cedi, which could harm export competitiveness.
President Mahama urged exporters to capitalize on the favorable rate, noting that cheaper fuel, lower port charges, and reduced raw material costs should boost production.
However, he cautioned importers against flooding the market with foreign goods, urging a shift towards local production and import substitution.
