{"id":720227,"date":"2019-10-10T11:26:45","date_gmt":"2019-10-10T11:26:45","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/"},"modified":"2019-10-10T11:26:45","modified_gmt":"2019-10-10T11:26:45","slug":"bog-to-auction-125m-to-check-forex-supply","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/","title":{"rendered":"BoG To Auction $125m To Check Forex Supply"},"content":{"rendered":"

<\/p>\n

\n

Dr Ernest Addison \u2013 BoG Governor<\/strong><\/p>\n

THE BANK of Ghana plans
\nto auction a total of $125,000,000 for the fourth quarter of 2019 spanning
\nOctober to December.<\/p>\n

The exercise is
\nexpected to be carried out in five tranches over the three months period.<\/p>\n

For each tranche,
\nthe Central bank is seeking to auction $25,000,000.<\/p>\n

A notice by the
\nBank of Ghana to all authorized dealers said the move was in accordance with
\nthe Foreign Exchange Forward Auction Guidelines issued on the 23rd<\/sup>\u00a0September, 2019.<\/p>\n

For every auction
\ndate, bids would be received between 10am and 11:30 am.<\/p>\n

$50m
\nauctions<\/strong><\/p>\n

On October 1,
\n2019, the Bank of Ghana commenced the forward auction of forex where it sought
\nto auction $50 million.<\/p>\n

The central bank
\nat the time auctioned $17,000,000.<\/p>\n

Forward
\nauction to help cedi stability <\/strong><\/p>\n

Meanwhile, Banking
\nConsultant, Nana Otuo Acheampong in an earlier interview said he was confident
\nthat the Bank of Ghana\u2019s forward sales of forex should help stabilize the cedi
\nfor some time.<\/p>\n

He explained that
\nthe ability of traders to access the foreign currency would also reduce any
\nspeculation which often distorts the market.<\/p>\n

\u201cThe fluctuation has partly been caused by the uncertainty where all of a sudden people are making payments which they have not budgeted for in foreign currency. So they have to rush for the cedi equivalent and at that time the exchange rate might have changed and then they find themselves buying the forex at any rate that is available. But this one is a way of bringing certainty,\u201d he remarked.<\/p>\n

\u2013 <\/strong>Citifmonline<\/strong><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Dr Ernest Addison \u2013 BoG Governor THE BANK of Ghana plans to auction a total of $125,000,000 for the fourth quarter of 2019 spanning October to December. The exercise is expected to be carried out in five tranches over the three months period. For each tranche, the Central bank is seeking to auction $25,000,000. A […]<\/p>\n","protected":false},"author":1,"featured_media":701649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-720227","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nBoG To Auction $125m To Check Forex Supply - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BoG To Auction $125m To Check Forex Supply - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Dr Ernest Addison \u2013 BoG Governor THE BANK of Ghana plans to auction a total of $125,000,000 for the fourth quarter of 2019 spanning October to December. The exercise is expected to be carried out in five tranches over the three months period. For each tranche, the Central bank is seeking to auction $25,000,000. A […]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/Dr-Ernest-Addison_DailyGudeNetwork.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/10\\\/10\\\/bog-to-auction-125m-to-check-forex-supply\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/10\\\/10\\\/bog-to-auction-125m-to-check-forex-supply\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"BoG To Auction $125m To Check Forex Supply\",\"datePublished\":\"2019-10-10T11:26:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/10\\\/10\\\/bog-to-auction-125m-to-check-forex-supply\\\/\"},\"wordCount\":258,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/10\\\/10\\\/bog-to-auction-125m-to-check-forex-supply\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/Dr-Ernest-Addison_DailyGudeNetwork.jpg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/10\\\/10\\\/bog-to-auction-125m-to-check-forex-supply\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/10\\\/10\\\/bog-to-auction-125m-to-check-forex-supply\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/10\\\/10\\\/bog-to-auction-125m-to-check-forex-supply\\\/\",\"name\":\"BoG To Auction $125m To Check Forex Supply - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/10\\\/10\\\/bog-to-auction-125m-to-check-forex-supply\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/10\\\/10\\\/bog-to-auction-125m-to-check-forex-supply\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/Dr-Ernest-Addison_DailyGudeNetwork.jpg\",\"datePublished\":\"2019-10-10T11:26:45+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/10\\\/10\\\/bog-to-auction-125m-to-check-forex-supply\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/10\\\/10\\\/bog-to-auction-125m-to-check-forex-supply\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/Dr-Ernest-Addison_DailyGudeNetwork.jpg\",\"contentUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/Dr-Ernest-Addison_DailyGudeNetwork.jpg\",\"width\":620,\"height\":440},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BoG To Auction $125m To Check Forex Supply - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/","twitter_card":"summary_large_image","twitter_title":"BoG To Auction $125m To Check Forex Supply - Ghanamma.com","twitter_description":"Dr Ernest Addison \u2013 BoG Governor THE BANK of Ghana plans to auction a total of $125,000,000 for the fourth quarter of 2019 spanning October to December. The exercise is expected to be carried out in five tranches over the three months period. For each tranche, the Central bank is seeking to auction $25,000,000. A […]","twitter_image":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/Dr-Ernest-Addison_DailyGudeNetwork.jpg","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Written by":"Ghana News","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036"},"headline":"BoG To Auction $125m To Check Forex Supply","datePublished":"2019-10-10T11:26:45+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/"},"wordCount":258,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/Dr-Ernest-Addison_DailyGudeNetwork.jpg","articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/","url":"https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/","name":"BoG To Auction $125m To Check Forex Supply - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2019\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/Dr-Ernest-Addison_DailyGudeNetwork.jpg","datePublished":"2019-10-10T11:26:45+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2019\/10\/10\/bog-to-auction-125m-to-check-forex-supply\/#primaryimage","url":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/Dr-Ernest-Addison_DailyGudeNetwork.jpg","contentUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/Dr-Ernest-Addison_DailyGudeNetwork.jpg","width":620,"height":440},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2019\/#website","url":"https:\/\/www.ghanamma.com\/2019\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2019\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"}}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts\/720227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/comments?post=720227"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts\/720227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/media\/701649"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/media?parent=720227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/categories?post=720227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/tags?post=720227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}