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Pulse Business Wrap - 29th Jan 2016 | Cedi to fall, Utility tariffs "outrageous"

89 views · Published 29 January 2016 · 1:35 · Indexed 31 October 2026

Channel: Pulse Ghana · 2016 · Entertainment

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Cedi predicted to tumble GH¢4.7 to a dollar

The cedi is expected to fall GHC4.7 to a dollar due to "the re-emergence of the seasonal pressures and elevated external risks," an economic analyst at Databank, Courage Kingsley Martey has said.
According to him, businesses will be looking at restocking goods sold during the festive season which will lead to an increased demand for foreign currencies.
This he said will lead to the fall of the cedi.
 
Utility tariffs "incredibly outrageous" - Spio-Garbrah

The Minister for Trade and Industry, Mr Ekwow Spio-Garbrah, has made a rare criticism of the recent utility tariffs hikes on his first radio interview on the matter.
He described the hikes as "incredibly outrageous."
According to him, the increments were unjustifiable especially in an election year.
 
We go to the currency market now where
Currency                      Buying                         Selling
Dollar                             3.82                             4.12
Pound Sterling               5.49                             5.79
Euro                              4.14                             4.44
 
To updates from the stock exchange today
There were no losers for the day… whereas SIC Insurance Comany Limited recorded the biggest gains, gaining 1p  to close at 0.18p.

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