A Deputy Minister for Trade and Industry, Michael Okyere Baafi has assured that government will set a fixed exchange rate at the ports for the next three months to cushion traders who import goods into the country.<\/p>\n\n\n\n
By this, the Ghana Revenue Authority will maintain a dollar rate for traders as the same level as the Bank of Ghana\u2019s interbank rate.<\/p>\n\n\n\n
The minister disclosed that the decision was reached after members of the Ghana Union of Traders Association (GUTA) went on a strike and closed their shops over high cost of doing business at the ports.<\/p>\n\n\n\n
\u201cGovernment is not against traders. We want to make them very comfortable in business.\u201d<\/p>\n\n\n\n
Mr. Baafi spoke during the signing ceremony of the sectorial expansion of the COVID-19 response grant programme.<\/p>\n\n\n\n
He explained that, fixing the exchange rate for long period at the Bank of Ghana rate will give traders some financial space to plan for the future.<\/p>\n\n\n\n
He added that the move will also stabilize prices on the market and keep inflation in check for a long time.<\/p>\n\n\n\n