BoG Releases $20 Million to Eleven BDCs as Part of Q2 Liquidity Programme
Eleven Bulk Oil Distribution Companies (BDCs) have secured $20 million from the Bank of Ghana (BoG) in the latest round of its foreign exchange forward auction, as the central bank intensifies efforts to contain the relatively stable exchange rate volatility and and further stabilise domestic fuel prices.
The auction, held on Tuesday, April 29, was priced at a locked exchange rate of GHS 14.28 to the US dollar, with bid offers ranging from GHS 13.85 to GHS 15.55.
The intervention is part of a broader BoG strategy to bolster forex liquidity for the downstream petroleum sector amid heightened uncertainty in global energy markets.
By directly supplying foreign exchange to BDCs, the central bank aims to reduce pressure on the interbank FX market, ensure the continuous supply of petroleum products, and insulate the domestic economy from abrupt fuel price shocks.
This latest allocation forms part of a $120 million programme earmarked for the second quarter of 2025, under which $20 million is disbursed every fortnight to qualified BDCs.
The initiative underscores the BoG’s resolve to promote price stability through targeted liquidity support to critical sectors of the economy such as the petroleum sector..
