• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

BoG announces $120m forex forward auction for Bulk Oil Distribution Companies in Q3 2023

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
140
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

BoG announces $120m forex forward auction for Bulk Oil Distribution Companies in Q3 2023

The Bank of Ghana has released its eagerly anticipated Forex Forward Auction Calendar for the third quarter of 2023, catering specifically to Bulk Oil Distribution Companies (BDCs). In a bid to enhance liquidity and facilitate smoother foreign exchange operations, a substantial amount of $120 million will be made available to the BDCs through the FX Forward Auction.

As per the guidelines outlined by the Bank of Ghana, interested parties are invited to submit bids in the prescribed format for the purchase of United States Dollars against Ghana cedis. Each auction date will have its distinct bidding timeline, commencing promptly between 9.30am and 10.30am.

Emphasizing transparency and adherence to protocol, the Bank of Ghana has established that the results of each auction will be promptly announced at 3.00pm on the respective auction date. This meticulous approach aims to provide clarity and certainty to all stakeholders involved in the Forex Forward Auction.

To participate in the Bulk Oil Distribution Companies Forex Forward Auction, firms must adhere to the guidelines available on the Bank of Ghana’s official website. By following the prescribed procedures, companies can seize the opportunity to acquire the much-needed United States Dollars, thereby facilitating smoother operations within the oil distribution sector.

This latest move by the Bank of Ghana demonstrates its commitment to promoting a robust and efficient foreign exchange market. By ensuring that BDCs have access to a significant pool of foreign currency, the central bank aims to support the growth and stability of the oil distribution industry, ultimately contributing to the broader economy.

The Bank of Ghana’s proactive approach in facilitating these auctions underscores its commitment to fostering a favorable business environment, enabling a more seamless flow of international trade and investment. As the BDCs eagerly await the upcoming auctions, market participants anticipate an enhanced level of liquidity and increased stability within the foreign exchange market.

RelatedPosts

Africa’s Fastest-Growing Economy Sets new Rules for Foreign Stake in Local Banks

Nigeria’s Oil Production Could Reach 2 Million bpd by Next Year

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

Tags: $120m forex forward auctionBDCsBOGBoG announces $120m forex forward auction for Bulk Oil Distribution Companies in Q3 2023
No Result
View All Result

Highlights

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

Historic Bid: U.S. Joins Forces with Mexico, Costa Rica, and Jamaica for 2031 Women’s World Cup

Bank of Ghana Sells GHS 7.0bn in 56-Day Bills at 21.46% Interest Rate

Deputy Finance Minister Hints 2026 Budget to Prioritise Fiscal Discipline and Job Creation 

FirstBank and Coronation Insurance Strengthen Partnership to Deliver Greater Value to Customers

Trending

Business

Africa’s Fastest-Growing Economy Sets new Rules for Foreign Stake in Local Banks

October 21, 2025

Africa’s Fastest-Growing Economy Sets new Rules for Foreign Stake in Local Banks Ethiopia has officially moved closer...

Nigeria’s Oil Production Could Reach 2 Million bpd by Next Year

October 21, 2025

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

October 21, 2025

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

October 21, 2025

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

October 21, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.