• 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

Central Bank sells $20m to 18 BDCs

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
A photo illustration show the US Dollars in Buenos Aires, Argentina, on October 16, 2019. (Photo illustration by Carol Smiljan/NurPhoto)

A photo illustration show the US Dollars in Buenos Aires, Argentina, on October 16, 2019. (Photo illustration by Carol Smiljan/NurPhoto)

926
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Central Bank sells $20m to 18 BDCs

The Central Bank has achieved its $20 million forex forward auction target in the latest forex forward auction to Bulk Oil Distribution Companies (BDCs) in the country.

Eighteen (18) BDCs participated, submitting bids ranging from GHS 11.40 to GHS 11.82 with the Bank of Ghana’s forex forward rate set at GHS 11.68.

The forex forward auctions by the BoG aim to reduce uncertainty surrounding forex availability, particularly in the downstream sector’s pricing window for imported fuel.

The success of the auction is expected to stabilize fuel prices at the pumps, addressing consumer concerns.

Meanwhile, the Bank of Ghana has allocated some $120 million for forex auctions in the fourth quarter to support BDCs with fuel imports.

This reflects the central bank’s commitment to maintaining fuel price stability amid economic pressures.

RelatedPosts

Passage of Competition Law Key to Tackling DSTV’s Market Dominance – CUTS International

Why Are Interest Rates Still High? The MPR vs Market Rates Debate

Climate Change Is Making Africa’s Debt Burden Worse – New Debt Contracts Could Help

These measures are part of broader efforts by the Bank of Ghana to ensure a stable forex market and price stability.

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.

Tags: BDCsBOGCentral Bank sells $20m to 18 BDCs
No Result
View All Result

Highlights

Nigeria’s EV Market is in Vogue as Foreign Investment Pours in

Communications Minister Rejects DSTV’s Pricing Stance, Demands ‘Fairer Deal’ for Ghanaians

CHAN 2024: Morocco and Kenya Shine, Madagascar and Mauritania Battle to a Draw

McLaren 1-2 as Lando Norris Wins Hungarian Grand Prix

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Trending

Business

Passage of Competition Law Key to Tackling DSTV’s Market Dominance – CUTS International

August 4, 2025

Passage of Competition Law Key to Tackling DSTV's Market Dominance – CUTS International The West Africa Regional...

Why Are Interest Rates Still High? The MPR vs Market Rates Debate

August 4, 2025

Climate Change Is Making Africa’s Debt Burden Worse – New Debt Contracts Could Help

August 4, 2025

Nigeria’s EV Market is in Vogue as Foreign Investment Pours in

August 4, 2025

Communications Minister Rejects DSTV’s Pricing Stance, Demands ‘Fairer Deal’ for Ghanaians

August 4, 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.