Don't Hoard Dollars: Expert Warns as Cedi Strengthens

Ghanaian Economist Warns Against Dollar Hoarding Amid Cedi's Rise Ghana's economy is experiencing a period of relative stability, with the cedi showing signs of strengthening against the US dollar. However, financial expert Kweku Bahen recently cautioned against complacency, urging citizens to avoid holding onto large sums of dollars. In a recent segment on UTV Ghana, Bahen stated, "Those who are keeping large sums of dollars should bring them out because the cedi is gaining value. Otherwise, they are going to lose money." Bahen's warning highlights the importance of monitoring currency exchange rates and making informed financial decisions. This advice is particularly timely given the recent volatility in the global financial markets and the ongoing economic recovery in Ghana. The government's recent economic policies have contributed to the cedi's improved performance, but experts warn that sustained stability requires continued prudent management. Bahen's call to action serves as a reminder of the dynamic nature of the financial landscape and the need for individuals to stay informed.