The exchange rate between the cedi and the dollar under the former President John Agyakum Kuffour (JDM), Former President John Dramani Mahama and the current sitting President His Excellency Mr. President Nana Akufo-Addo Dankwa and Vice President Dr. Bawumia is compiled below.
Under Akuffo Addo
2022 – $1 : Gh 10.00 [August]
2021 – $1 : Ghc 5.90
2020 – $1 : Ghc 5.60
2019 – $1 : Ghc 5.20
2018 – $1 : Ghc 4.60
2017 – $1: Ghc 4.40
Under Mahama
2016 – $1 : Ghc 3.90
2015 – $1 : Ghc 3.80
2014 – $1 : Ghc 3.00
2013 – $1 : Ghc 2.30
Under Mills
2012 – $1 : Ghc 1.90
2011 – $1 : Ghc 1.60
2010 – $1 : Ghc 1.50
2009 – $1 : Ghc 1.40
Under Kuffour
2008 – $1 : Ghc 1.30
2007 – $1 : Ghc 1.00n
NB: Redenomination of the cedi took place under JAK and came into effect on 1st July 2007, thus Kuffuor’s 2nd term in office.Â
Fast forward, the current inflation in Ghana is always attributed to Russia-Ukraine war. Let’s see the current inflation rate between Russia and Ukraine and finally compare it to that of Ghana’s own.
Russia (the bomb throwers) inflation rate as at July 2022= 18.40%
Ukraine ( bomb receivers, inflation as at July 2022= 22.2%
 Ghana (the spectators of the bomb throwing), inflation as at July 2022 = 31.7%
I believe that, the above date speak for itself and one can make accurate judgment without confrontation. It can be concluded that, based on the above exchange rate between the dollar and the cedi, the former president did their best.
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