The Central Bank for the forex forward rates auction held on Tuesday, May 18, accepted $25 million out of the total $71.7 million bids made by the various banks.
The bids were made for the 7 day, 15 day, 30 day, 45 day, 60 day and 75 day tenors.
Total bids submitted for the 7 day tenor amounted to $43.2 million of which the Bank of Ghana (BoG) accepted $11.5 million.
For the 15 day, 30 day and 45 day tenors, bids made totaled $19.7 million, $7.2 million and $1.5 million respectively.
Aside the 45 day tenor which the BoG accepted all bids submitted, the BoG accepted $8 million and $4 million out of bids made for the 15 day and 30 day tenors.
No bids were however, made for the 60 day and 75 day tenors.
The BoG has for this year set aside some $775 million for its forex forward programme.
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 importers and exporters.
