Nine BDCs Secure $20m in BoG Forex Auction to Bolster Fuel Imports
Nine Bulk Oil Distribution Companies (BDCs) have secured a total of $20 million from the Bank of Ghana (BoG) in the latest round of the central bank’s foreign exchange forward auction aimed at stabilising forex availability for petroleum imports.
The auction, held on Thursday, June 12, 2025, was priced at a fixed exchange rate of GHS 10.32 to the US dollar, with submitted bids ranging between GHS 9 and GHS 10.
This intervention is part of a broader $120 million programme being implemented by the central bank for the second quarter of the year to support the downstream petroleum sector and safeguard fuel supply.
The programme, launched in April 2025, is designed to disburse $20 million bi-weekly to eligible BDCs to ensure consistent access to foreign exchange for the importation of petroleum products.
In a statement, the BoG noted that the initiative forms part of efforts to ease pressure on the interbank FX market, ensure an uninterrupted supply of fuel, and cushion the economy against external shocks stemming from volatility in global energy markets.
Industry watchers say the central bank’s direct support for the fuel import sector is critical to managing inflationary pressures and ensuring macroeconomic stability, particularly as global oil prices remain unstable.
The next auction under the programme is scheduled for late June, with expectations that another $20 million will be made available to qualifying BDCs.
