Bank of Ghana declines $130m in forex auction
The Bank of Ghana (BoG) for its forex forward rates auction held on Tuesday, December 7, 2021, rejected a total of $121.75 million bids submitted by bidders for tthe American greenback.
The rejected $130.1 million was out of a total $170.1 million bids submitted by the buyers.
The Central Bank, out of the total bids made only accepted $40 million.
The bids were made for the 7 day, 15 day, 30 day and 45 day tenors.
Total bids submitted for the 7 day tenor amounted to $89.07 million of which the BoG accepted $23.75 million.
For the 15 day, 30 day and 45 day tenors, bids made totaled $59.03 million, $17.5 million and $4.5 million respectively.
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The BoG, for the 15 day, 30 day and 45 day tenors accepted bids totaling $10.25 million, $4.5 million and $1.5 million respectively.
No bids were made for the 60 day and 75 day tenors.
The BoG’s forex forward auction programme is to help govern the conduct of forex auctions on the interbank foreign exchange market, deepen the forex market and reduce uncertainty on the future availability of dollars to meet the forex need of particularly importers and exporters.
Examine details of auction report below:
Fx Forward Auction Result No 0057 by Fuaad Dodoo on Scribd
