The Ghana Union of Traders’ Associations (GUTA) has called on its members to review and adjust the prices of goods and services in light of the recent appreciation of the Ghanaian cedi against the US dollar and other major trading currencies. Apexnewsgh reports
In a statement signed by GUTA President Dr. Joseph Obeng, the association acknowledged the strengthening of the cedi as a timely and positive development. They urged traders to reflect this improvement in the economy through fair and reasonable pricing for customers. “The Ghana Union of Traders’ Associations (GUTA) wishes to appeal to the trading community to adjust prices of goods and services to share the significant gains made by the appreciation of the cedi against major trading currencies and bring some relief to the consuming public,” the statement emphasized.
Over the past several weeks, the cedi has demonstrated notable resilience, reversing its earlier depreciation trend. Experts attribute this newfound strength to improved foreign exchange inflows, reduced demand pressures, and enhanced investor confidence spurred by recent policy measures and fiscal discipline.
GUTA believes that this upward trend presents a crucial opportunity for traders to pass on the benefits to consumers who continue to face a high cost of living. Dr. Obeng highlighted that aligning prices with current exchange rate dynamics would not only promote fairness in the marketplace but also foster goodwill and trust between traders and their customers.
In their appeal, GUTA encouraged all sectors of the trading community to act in good faith by recalibrating their pricing structures in light of the more favorable exchange rate environment, thereby supporting broader national economic recovery efforts. As businesses take steps to adjust their prices, consumers hope for a much-needed reprieve in their everyday expenditures.
Source: Apexnewsgh.com
