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[QUOTE="Munyaradzi Mafaro, post: 39422, member: 636"]
President John Mahama asked business owners to lower their prices after the cedi became stronger. He spoke at the Ghana CEO Summit and Awards Expo on Monday, May 26. Transport companies have already cut their fares after the local currency gained value against foreign currencies. The Ghana Private Road Transport Union reduced prices for passengers across the country by 15 percent. Mahama thanked transport leaders for helping ordinary people save money on travel costs.

Government officials promised to keep spending under control to help companies make profits. Mahama praised businesses that had already dropped their prices when the cedi improved against other currencies. He wants more companies to pass savings along to customers who struggle with high costs. Business leaders heard the president promise continued support for their operations. Many companies have not reduced prices despite the stronger local currency performance.

Currency exchange data shows the dollar costs 11.90 cedis at private money changers around Ghana. The Bank of Ghana currently sets the official rate at 10.96 cedis per dollar. The cedi keeps gaining strength against major international currencies like the American dollar. Money experts track these changes through websites that monitor daily exchange rates. Stronger local money should help reduce costs for imported goods and services.
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