A coalition of traders’ groups calling itself Ghana Federation of Traders (GHAFET) is appealing to government for an immediate action to be taken to reduce the exchange rate.
They are demanding a significant scaling down of the exchange rate from GHC15.50 to GHC10.00.
The traders have indicated that the current exchange rate poses a threat to the sustainability and viability of their businesses.
Fluctuations in currency values according to them have greatly inflated the cost of imports, pushing operational expenses to unsustainable levels accounting to fold up of businesses.
The traders made up of Automobile Dealers Union Ghana, Abossey Okai Spare Parts Dealers Association, Traders Advocacy of Ghana and other trader groups in a joint press release are demanding a lower exchange rate to safeguard their livelihoods.
Below is the full press statement.
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