The Chairperson of the Techiman South Spare Parts Dealers Association, Nathaniel Coffie Amanquah, popularly known as Borga Nat Coffie, has revealed that the recent drop in the cedi–dollar exchange rate has brought relief to traders and motorists, significantly reducing the cost of spare parts in the municipality.
Speaking to the media, Mr. Amanquah noted that a year ago, the cedi–dollar rate was very high, causing prices of spare parts to skyrocket. He attributed the recent stabilization to the policies of the new government, saying it is a credit to the President and the administration.
“A year ago, the cedi–dollar exchange rate was very high, and this significantly affected the prices of spare parts. However, under the new government, the exchange rate has dropped, and this is a credit to the President and the current administration.”
He added that prices of spare parts in the Techiman Magazine market have dropped significantly, easing the burden on both traders and vehicle owners.
“As the Chairperson of the Techiman Spare Parts Dealers Association, I can confidently say that the prices of spare parts in the Techiman Magazine market have dropped significantly.”
The Chairperson urged traders to remain strategic in their operations but emphasized that the improved exchange rate is a welcome development for the business community in Techiman.
“Although, as a businessman, I always advise my colleagues to learn how to strategically navigate the market regardless of the cedi–dollar rate, the truth is that whenever the rate drops, it helps us greatly.”
The Chief Executive Officer of Issah Korea One Enterprise, Issah Azuma, popularly known as Master Issah Korea and the importer of the renowned SM Supreme Premium Lubricant, explained that the dollar is widely used for transactions in the international market. He added that with the current exchange rate, things are beginning to stabilize across the country, particularly regarding import duties.
“We all know that the dollar is used for transactions in the international market, and with the current cedi–dollar exchange rate, things are now stabilising in the country, especially import duties.”
He continued, “Gone are the days when prices were skyrocketing on a daily basis. With the current cedi–dollar ratio, the prices of goods are reducing, and those that have not reduced have stabilized.
Source: Elvisanokyenews.com
