Ghanaian Man Abroad Says He Has Sleepless Nights Due to Cedi’s Appreciation Against the Dollar
- A Ghanaian man living in the US said he is unable to sleep because of the depreciation of the dollar against the cedi
- Kamashie said he wakes up at night several times to check the rates on several money transfer platforms before day breaks
- Social media users who watched the video thronged the comment section to share their thoughts on the matter
A Ghanaian man in the United States of America said he is having sleepless nights following the depreciation of the dollar against the cedi since the Mahama-led government took over.
Kamashie said he is putting up a building in Ghana, and the cost involved has not changed even though the cedi is doing well against other foreign currencies.
Source: UGC
In an interview with DJ Nyaami on SVTV Africa, Kamashie said the performance of the cedi against other foreign currencies is affecting those who live abroad and send money to their relatives in Ghana.
“I am unable to sleep at night. I wake up periodically to check from WorldRemit, Send wave, Tap Tap send only to check rates. We are struggling because the cedi is appreciating against the dollar, but prices of goods in Ghana remain the same.”
“I asked a tiler to give me an estimate for some work, and it is the same as when the dollar was much higher. Ghanaians abroad are struggling.”
Kamashie recounted that he used to send a specific amount in dollars to his relations, but cannot do so again since it will not be the same amount in cedis.
“I used to send $35 to people in Ghana, and then they received GHC500. But now things have changed. I can’t give more than $35 because it will affect me.”
When asked if he would consider resettling in Ghana if the cedi’s performance continues to be better, Kamashie said he would not.
“The systems here work. I know I will be paid every two weeks, and nobody gives me stories. Prices of items are fixed, and nobody tries to make too much money. I will not come back home. I will stay in the US and visit Ghana from time to time.”
Watch the video below:
Netizens comment on cedi appreciation
YEN.com.gh collated some reactions to the video shared by SVTV Africa on YouTube. Read them below:
@hisholiness2010 said:
"Kamashie and his change of voices, more than A1. Sharp interview ❤."
@shugaray7201 wrote:
"I wish the USD dollar would drop to 2Gh and by the time we enter into multi- multi-polarised system, the USD will hold no value. I hope the current government will implement the Gold policy 😊."
@jstartech2812 said:
"Weak mentality, always saying copy the white. If a price is high, just buy the cheap one. Coffee in Starbucks is 10 dollars, a Diner at the corner 1,5 dollars. Buy what you want from our mummies. Cedis is coming❤."
@irene4770 wrote:
"This man is correct, the system works well abroad... It's not only about money that we travel abroad. It's because the system works. You are a blessed man with a good wife!!"
Ghanaians concerned as cedi's value drops slightly
YEN.com.gh reported that the Bank of Ghana issued an update on the performance of the Ghanaian cedi in the forex market.
The update showed that the cedi had slightly depreciated against the dollar, raising alarm.
Netizens who saw the post were divided and expressed mixed reactions, as some lamented the development while others teased the government.
Source: YEN.com.gh
