BoG to sell US$450 million in forex to banks and businesses
Central Bank releases FX Auction calendar for first three months of 2022
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.
According to a memo issued detailing the central banks’ calendar, the Bank of Ghana is also planning to sell US$75 million at each auction. This represents US$40 million more than what was previously sold in 2021.
“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, bogforwards@bog.gov.gh,” portions of the BoG memo read.
“The Competitive multiple-priced Foreign Exchange Forward Auction will be governed by the guidelines published and available on the Bank of Ghana website,” it outlined.
See the full statement below: