{"id":1255717,"date":"2022-11-22T12:23:20","date_gmt":"2022-11-22T12:23:20","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/11\/22\/withdrawal-of-fx-support-to-banks-to-constrain-dollar-liquidity-report-2\/"},"modified":"2022-11-22T12:23:20","modified_gmt":"2022-11-22T12:23:20","slug":"withdrawal-of-fx-support-to-banks-to-constrain-dollar-liquidity-report-2","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/11\/22\/withdrawal-of-fx-support-to-banks-to-constrain-dollar-liquidity-report-2\/","title":{"rendered":"Withdrawal of FX support to banks to constrain dollar liquidity \u2013 Report"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"648\" height=\"424\" class=\"entry-thumb\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/10\/image_2022-04-04_112642.png\"   alt=\"Dollars - Myjoyonline\" title=\"Dollars\"\/><figcaption class=\"wp-caption-text\">Dollars<\/figcaption><\/figure>\n<\/div>\n<p>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<p>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<p>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<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<p>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<p>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<p><strong>ALSO READ:<\/strong><\/p>\n<p><strong>BoG directs banks to withdraw foreign exchange support for importation of rice, vegetable oils, others<\/strong><\/p>\n<p>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<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"1CCzRzIuFc4\"><iframe loading=\"lazy\" title=\"Absence of premix fuel, other factors collapsing fishing business \u2013 Canoe Council (21-11-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/1CCzRzIuFc4?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dollars 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1230755,"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-1255717","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\/1255717","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=1255717"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1255717\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1255717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1255717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1255717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}