A Nigerian Trader within the Wa Municipality who requested for Anonymity has indicated that prices of spare parts won’t be reducing any time soon.

He revealed the fettle in a conversion with Upperwestmedia team on 16th of December 2022 after he was questioned as to why prices are still high despite Reduction in rate of Dollar and cost of Fuel.

He noted that Prices of spare parts will go down after three months because they had old stock in their ware houses which they purchased at high prices. He continued that the time they bought those items, the dollar was trading at Ghc15, a development that has compelled them to sell at higher prices in order not to encure losses.

He assured that after three months from December which is around March 2023, prices of goods will begin to drop, meanwhile checks Revealed that the Cedi is currently appreciating and is trading at Ghc7 in Commerical Banks such as GCB.

Meanwhile some local spare parts dealers have assured prices of spare parts will come down.

Checks also revealed that CFA has dropped in interbank markets.

1 Cedi is currently trading at 68.57 CFA.(Ghc1 – CFA 68.57)
1 Cedi is also Trading at 85 Naira
Whilst
1 Cedi is $7 Dollars.
1 Dollar is Naira 950 per Pulse Nigeria’s Website.

Source: Upperwestmedia.net