DEGLORY GH MEDIA

The Ghana Union of Traders’ Associations (GUTA) has expressed appreciation to the Bank of Ghana (BoG) for its effective management of the cedi, which has significantly enhanced business confidence and contributed to economic stability.

In a statement released on May 7, 2025, GUTA noted that the recent strengthening of the local currency has helped many businesses regain capital previously lost during the country’s economic downturn. The association emphasized that the cedi's steady performance against major foreign currencies has brought much-needed relief and optimism to the business community.

GUTA attributed this positive development to the Bank of Ghana's strategic interventions in the forex market, as well as government efforts in maintaining fiscal discipline. They urged both institutions to continue implementing such sound economic measures to sustain growth, enhance competitiveness, and ease the financial burden on the Ghanaian population.

Additionally, GUTA highlighted that the cedi's stability has fostered a more predictable exchange rate environment, challenging the long-standing perception of foreign currencies, particularly the dollar, as safer stores of value.