Money expert Patrick Asuming sees growing trust behind the stronger cedi. The University of Ghana teacher told Channel One TV viewers the current exchange rate might change later this year. He noticed people feel better about our economy since the last vote. The national budget reading helped build this feeling among businesses. The IMF's deal with the government also made investors more hopeful.
Bank of Ghana numbers back up what Asuming says about the market mood. Consumer confidence went up about 10 percent between December and February. Business surveys show companies also feel more positive than before. These good feelings add to other money factors, helping our currency gain value. The professor believes this mix of technical reasons and public trust explains recent changes. Ghana faces many money challenges, but this short-term improvement shows some progress. The cedi performs better when both citizens and outside investors believe things will improve. Numbers from both shoppers and company leaders point to the same upward trend.
Bank of Ghana numbers back up what Asuming says about the market mood. Consumer confidence went up about 10 percent between December and February. Business surveys show companies also feel more positive than before. These good feelings add to other money factors, helping our currency gain value. The professor believes this mix of technical reasons and public trust explains recent changes. Ghana faces many money challenges, but this short-term improvement shows some progress. The cedi performs better when both citizens and outside investors believe things will improve. Numbers from both shoppers and company leaders point to the same upward trend.
