The Central Bank for the forex forward rates auction held on Tuesday, June 15, 2021, accepted $25 million bids submitted thereby rejecting bids amounting to some $57.75 million.
The $25 million accepted bids were out of some of $82.75 million bids made by the various banks at the auction.
This represents some 34 bids accepted out of the 108 total bids made by banks.
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 $46.5 million of which the Bank of Ghana (BoG) accepted $14 million.
For the 15 day, 30 day and 45 day tenors, bids made totaled $24 million, $9.75 million and $2.5 million respectively.
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The BoG, for the 15 day and 30 day tenors accepted bids totaling $7.25 million and $3.75 million respectively.
None of the $2.5 million bids made for the 45 day tenor was accepted by the BoG, and no bids were made for the 60 day and 75 day tenors.
The BoG has for this year set aside some $775 million for its forex forward auction 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.
