Amidst floods and fires, fuel price increases and dumsor, people are overwhelmed with enough troubles they’re overlooking another major one: the depreciation of the cedi against all its major trading partners- but most especially against the dollar.

The cedi has been steadily depreciating since this government took over almost 8 years ago, and I remember how much news it made when $1 hit Ghc 3. It fluctuated through most of last year, going back to as low as Ghc 3.1 when it had hit Ghc 3.6-7 at some points during the year.

But the free fall resumed since the beginning of this year, until it hit $1=Ghc 4 sometime in May. As the above image shows, within the past 3 days alone, the cedi has depreciated from Ghc 4.05000 to 4.1400 on the dollar- just look at the steepness of the rise on that infograph.

We are really in trouble from the look of things, as the incompetence, apathy, and mismanagement extends to all segments of the economy. The Euro is trading at Ghc 4.5 whilst the GBP is at Ghc 6.3; meaning our currency is virtually worthless as a trading tool on the world stage.