BoG to sell US$450 million in forex to banks and businesses
Guidelines for auction to be published on central bank portal
Ghana’s central bank has increased the amount of dollars it is planning to sell to banks and businesses through its FX Auction program for the first quarter of 2022.
According to the 2022 Auction calendar for the first quarter of the year, the BoG plans to sell US$450 million for the period.
The amount is however about US$150 million more than the US$300 million it sold in the first three months of 2021 in the FX Auction program.
A memo issued by the central bank read, “in accordance with the Foreign Exchange Forward Auctions Guideline, bids are invited as per the prescribed format to purchase United States dollars against the Ghana cedis, separately on each auction date and should be submitted via the dedicated email, [email protected]”
“The Competitive multiple-priced Foreign Exchange Forward Auction will be governed by the guidelines published and available on the Bank of Ghana website,” portions of the memo added.
See the full statement below:
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