{"id":1255404,"date":"2022-11-22T07:26:19","date_gmt":"2022-11-22T07:26:19","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/11\/22\/withdrawal-of-fx-support-to-banks-to-constrain-dollar-liquidity-report\/"},"modified":"2022-11-22T07:26:19","modified_gmt":"2022-11-22T07:26:19","slug":"withdrawal-of-fx-support-to-banks-to-constrain-dollar-liquidity-report","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/11\/22\/withdrawal-of-fx-support-to-banks-to-constrain-dollar-liquidity-report\/","title":{"rendered":"Withdrawal of FX support to banks to constrain dollar liquidity – Report"},"content":{"rendered":"

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The withdrawal of foreign exchange for the import of non-essential commodities including rice could constrain foreign exchange liquidity and worsen its demand-supply disparity.<\/p>\n

The Bank of Ghana announced the withdrawal of foreign exchange support for the import of what the government classifies as non-essential commodities. They included rice, poultry, cooking oil, among others.<\/p>\n

Though analysts such as Databank Research welcomed the initiative as the government strives to preserve its dollar reserves, they believe the move could constrain foreign exchange liquidity.<\/p>\n

Against this backdrop, they anticipate the depreciation of the local cedi to intensify in the retail market, while seeing gentle movements in the interbank market this week.<\/p>\n

The cedi closed weaker last week, depreciating by 1.69% to the dollar. It also lost 3.54% and 4.01% to the pound and the euro respectively.<\/p>\n

The cedi closed trading last week at a bid\/ask rate of \u0483\u00a213.10\/\u0613\u00a213.11 to the US dollar on the interbank market and \u00a214.5\/\u00a215.00 at the forex bureau market.<\/p>\n

DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The withdrawal of foreign exchange for the import of non-essential commodities including rice could constrain foreign exchange liquidity and worsen its demand-supply disparity. The Bank of Ghana announced the withdrawal of foreign exchange support for the import of what the government classifies as non-essential commodities. They included rice, poultry, cooking oil, among others. Though analysts […]<\/p>\n","protected":false},"author":1,"featured_media":1205374,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[1274,29179,4219,28283,1584,115,6840],"class_list":["post-1255404","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-banks","tag-constrain","tag-dollar","tag-liquidity","tag-report","tag-support","tag-withdrawal"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1255404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1255404"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1255404\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1255404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1255404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1255404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}