Forex bureaus in Accra and Kumasi are facing a shortage of the British pound; which is currently the most attractive currency for people who want to take advantage of its increasing value.
The pound has appreciated by over 35% since the year began.
The shortage is said to have begun early this week
The owners of these Forex bureaus say this is not an isolated case, the same can be said of other Forex bureaus located in some areas in Kumasi.
The Chief Accountant of Dee Dee Forex bureau in Adabraka, Ebenezer Ntow says, they started observing this after the bank of Ghana introduced the new foreign exchange rules in February.
“Because of the new policy the bank of Ghana brought, it is very difficult to get the foreign currency at the moment. It is very scarce,” he said.
Forex bureau owners indicate however that the pound is not usually a currency used for trading as most Ghanaians who receive it get it as transfers from families abroad and because of its increasing value, they would prefer to hoard it.
Business World (with notes from citifmonline)