BoG To Auction $450million In First Quarter Of This Year

The Bank of Ghana will auction $450 million dollars in the first quarter of 2022. The move is expected to help bolster the performance of the local currency against the dollar. The Central Bank has therefore announced to all the authorised foreign exchange dealing banks the auction Calendar for foreign exchange forward auctions

to be also held in the first quarter of this year 2022. In accordance with the foreign exchange forward auctions guideline, bids would be invited as per the prescribed format to purchase United States dollars against the cedis, separately on each auction date and should be submitted and via the email, bogforwards@bog.gov.gh.

The Central Bank will also from quarterly basis publish an auction calendar for the Foreign Exchange Forward Auction. The calendar will also be published one week preceding the next quarter also on BoG website. The competitive multiple-priced Foreign Exchange Forward Auction will be governed by the guidelines published and available on the Bank of Ghana website.