• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Prof Gatsi criticizes BoG’s warning to currency speculators

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
133
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Prof Gatsi criticizes BoG’s warning to currency speculators

Dean of the University of Cape Coast Business School, Prof John Gatsi, has described as ‘desperate’ the Central Bank’s warning to speculators that they would regret betting against the cedi.

According to Prof. Gatsi, the Central Bank instead of threatening speculators should rather put in place the needed measures to make speculation less profitable.

Asserting that speculators are legitimate and rational market players who take advantage of changes in market conditions to make a profit.

“In the matter of depreciation of the Ghana cedi, speculators are legitimate market players who take advantage of changes in market conditions be it forex, stocks, bonds, and futures to make profits. They are rational and make good sense of market information to gain. Transparency, robust market information, and stable regulations calm down the risk taking behavior of traders and ensure stability.

“Threats by the regulator such as warning traders they will lose because new measures have been put in place are signs of desperation and even more worrying is to put information about possible inflows of foreign currency at a future date to change the risk-taking behavior of traders signals that we don’t have enough foreign currency supply.

“If supply is good, the so called speculators will not create a different scenario. Let people have confidence and stop investing in foreign currencies. Speculators exploit opportunities in half-baked information in the forex market. Manage the economy well and make speculation less profitable,” he quipped.

RelatedPosts

Value of Mobile Money Transactions Hit GHS 323.2bn in June

Alex Mould Questions BoG’s 25% Policy Rate Amid Ample Market Liquidity and Falling Inflation

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis

The Governor of the Central Bank, Dr Ernest Addison, during the 118th MPC press briefing warned speculators that they would regret betting against the local currency.

According to the Governor, the BoG remains fully committed to providing stability in the exchange rate for the cedi.

“The bank has enough foreign exchange reserves to support the market and economic agents should stop engaging in speculative purchases as they will suffer economic losses when the correction occurs,” he noted.

The cedi declined 0.3% to a record low of GHS 14.646 per dollar on Monday following the BoG’s decision to maintain its policy rate for the second consecutive time.

The Cedi has lost 10.5% of its value against the dollar since late March making it the worst-performing currency in the world over the period.

 

 

Tags: BOGProf GatsiProf Gatsi criticizes BoG's warning to currency speculators; says speculators legitimate market playersspeculators
No Result
View All Result

Highlights

The Perils of Market Interventionism: When Political Pressures Threatens Ghana’s Economic Gains – The Way Forward

GAB Projects Drop in Lending Rates Starting August 6 Following BoG’s 300bps Policy Rate Cut

Local Bourse Rallies Strongly as GSE-CI Hits Near 7,000 Mark

Treasury Exceeds Auction Target of GHS 3.86 Billion Amid Tightening Yields

BoG Raises GHS 15.38 Billion via 56-Day Bills to Reinforce Tight Monetary Policy Stance

Passage of Competition Law Key to Tackling DSTV’s Market Dominance – CUTS International

Trending

Business

Value of Mobile Money Transactions Hit GHS 323.2bn in June

August 4, 2025

Value of Mobile Money Transactions Hit GHS 323.2bn in June The total value of mobile money transactions...

Alex Mould Questions BoG’s 25% Policy Rate Amid Ample Market Liquidity and Falling Inflation

August 4, 2025

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis

August 4, 2025

The Perils of Market Interventionism: When Political Pressures Threatens Ghana’s Economic Gains – The Way Forward

August 4, 2025

GAB Projects Drop in Lending Rates Starting August 6 Following BoG’s 300bps Policy Rate Cut

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.