A senior lecturer at the University of Ghana Business School (UGBS), Professor Lord Mensah, has expressed concerns about Ghana's current economic outlook.

In a post on X (formerly known as Twitter) on April 9, 2024, he pointed out the potential negative consequences of a depreciating currency like the Ghanaian Cedi, particularly its impact on the affordability of essential commodities.

“The depreciation of the Cedi is making the consumption of petrol products expensive. Ghana does not have alternative exports to neutralize this effect.

“Therefore, the continuous depreciation. Cocoa was doing the trick, but the sector is in comatose. The mess is deep, menua!” he said.

According to the Bank of Ghana's interbank forex rates as of April 8, 2024, the Ghana Cedi is trading against the US Dollar at a buying price of 12.9117 and a selling price of 12.9247.

At a Forex bureau in Accra, the Dollar can be bought at a rate of 13.20 and sold at 13.60.

Against the Pound Sterling, the Cedi is trading at a buying price of 16.3062 and a selling price of 16.3251.