The Supreme court will next week Monday the 15th of December, 2014 rule on the case filed against the Bank of Ghana by private legal practitioner, Dr John Ephraim Baiden over the depreciation of the cedi.
Dr Ephraim Baiden dragged the bank of Ghana to court on accusation that the central bank had failed in its duty to maintain a stable currency which had depreciated in excess of 30 percent this year.
The cedi experienced one of its worst performances against major foreign currencies especially the dollar this year.
The development led to the Bank of Ghana implementing new and revised rules to prevent the cedi from further fall.
According to Dr Baiden the depreciation resulted in lots of businesses losing millions of cedis hence prayed the court to bring the Bank of Ghana to order.
The case, which was initially scheduled to be heard on November 20, 2014 was adjourned indefinitely when it was called.
By: Anim Kwaku Boadu/citifmonline/Ghana