Economist Prof. Godfred Bokpin has cautioned that Ghana’s heavy reliance on foreign exchange is undermining the stability of the cedi.
Speaking on JoyNews’ Newsfile on Saturday, he noted that while Bank of Ghana interventions may be necessary when volatility is excessive, extensive interference risks creating an artificial exchange rate that does not reflect market realities.
According to him, such a situation could trigger responses that the central bank would be unable to control.