Home / BUSINESS NEWS / Gabby Otchere-Darko: Prepare For More Pressure On Ghana Cedi

Gabby Otchere-Darko: Prepare For More Pressure On Ghana Cedi

Spread the love

The founder of the Danquah Institute, Gabby Asare Otchere-Darko, has served notice to Ghanaians to be ready for further depreciation of the local currency, the Ghana Cedi due to the Russia – Ukraine conflict.

The political strategist said other African currencies will suffer the same fate as the US dollar gains due to the ongoing conflict that has affected global oil prices.

The Ghana Cedi is currently trading at GHC7 against the US Dollar at some interbank forex market.

See also  FB Report: Which Law School Taught You To Call And Question A Minister On Phone? – NDC's Sammy Gyamfi Asks Gabby



Oil prices surge after Russia’s invasion of Ukraine 

Oil prices jumped on Friday by nearly 3% on concerns of global supply disruptions from the impact of trade sanctions on major crude and fuel exporter Russia after it invaded Ukraine.


Global benchmark Brent crude rose US$2.81, or 2.8%, to US$101.89 a barrel at 0738 GMT on Friday, after climbing to as high as $101.99.



U.S. West Texas Intermediate (WTI) crude touched a high of $95.64 a barrel, and was last up US$2.37, or 2.6%, at US$95.18.

See also  GUTA Urges Members To Reduce Price Of Goods And Services As Cedi Stabilises

The start of the invasion in Ukraine on Thursday caused prices to surge above US$100 a barrel for the first time since 2014, with Brent touching $105, before paring gains by the close of trade.

The massed Russian assault by land, sea and air was the biggest attack on a European state since World War Two, prompting tens of thousands of people to flee their homes.















See also  Gabby Otchere-Darko Gets Appointment












About Adwenpa-Hene

I'm Adwenpa-Hene |Blogger & Broadcaster Journalist. I am the CEO and manager of this noble website. I publish on Entertainment, Sports, Politics, Lifestyle, and Technology. You can also follow Us on : YouTube Channel - My Ghana Media TV, Facebook - MyghanaMedia TV , Twitter - @MyGhanamedia2 & Instagram - My Ghana Media TV. Email Address: [email protected] Contact Us: 0200818719

Check Also

Prof. Opoku-Agyeman: Rumours Of Jostling For New NDC Veep Are Unnecessary Distractions [Audio]

Spread the love The 2020 Vice Presidential candidate of the NDC, Professor Naana Jane Opoku-Agyeman, …

Leave a Reply

Your email address will not be published. Required fields are marked *