BoG declines $127 million bids in forex forward auction
The Central Bank for the forex forward rates auction held on Tuesday, June 28, 2022, accepted $50 million bids submitted thereby rejecting bids amounting to some $127 million.
The $50 million accepted bids were out of some of $177 million bids made by the various banks at the auction.
This represents some 43 bids accepted out of the 162 total bids made by banks.
The bids were made for the 7 day, 15 day, 30 day, 45 day, 60 day and 75 day tenors.
Total bids submitted for the 7 day tenor amounted to $89.5 million of which the Bank of Ghana (BoG) accepted $19 million.
For the 15 day, 30 day and 45 day tenors, bids made totaled $52.75 million, $26.75 million and $4 million respectively.
The BoG, for the 15 day, 30 day and 45 day tenors accepted bids totaling $15.5 million, $12.5 million and $500,000 respectively.
For the 60 day and 75 day tenors, bids submitted amounted to $3.5 million and $500,000 with the Central Bank accepting bids to the tune of $2m and $500,000 respectively.
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.
Daily Equity Market Report_29.06.2022 by Fuaad Dodoo on Scribd
