The Ghana Union of Traders' Associations (GUTA) has advised the business community to adjust the prices of goods and services to reflect the gains being made by the national currency because it recognizes the efforts being made by the government and the Bank of Ghana to stabilize the Cedi.

The cedi to dollar exchange rate hit $1 to GH15 this year, but it currently trades just around GH12.50 to the dollar.

The GUTA asked the government to continue with greater efforts to maintain the program and provide assistance to the business community in a statement released over the weekend.

“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, to make the consuming public feel the impact of this positive trend,” the statement added.

“We hope to see further and continuous appreciation of the Cedi and envisage that the economy will turn around in the shortest possible time,” GUTA said.

Meanwhile, Bloomberg reported that the Ghana cedi was the best-performing currency against the US dollar last week.

The currency, having lost more than 50% of its value in the year gained 10% against the dollar.