BoG sets aside $120m in forex auction for Q2 2023
Some $120 million dollars is projected to be sold out to authorised foreign exchange dealers and Bulk Oil Distribution Companies (BDCs) by the Bank of Ghana in the second quarter of 2023.
This is per the Central Bank’s second quarter auction target calendar for multiple-price foreign exchange forward auction.
According to the Bank of Ghana, the said amount is going to be sold at the Foreign Exchange Forward Auction in accordance to its auction guidelines.
Compared to the some $200m auctioned in the first quarter of 2023, the Central Bank’s decision to auction $120m for the second quarter indicates a decrease of some $80m in its forex forward auction.
The Bank of Ghana, in the publication of the forex auction calendar, has called for the invitation of bids as per the prescribed format to purchase the US dollars against the cedis separately on each auction date.
Per the auction calendar, forex forward auctions amounting to $20m will be auctioned on each auction date from April 13, 2023 to June 28, 2023.
Receipts of bids will be made from 9:30am to 10:30am on each auction day with the announcement of the auction results made at 3pm on each auction date.
