"Six BDCs Receive $20m FX Support from BoG to Bolster Fuel Supply Stability"

Six BDCs Receive $20m FX Support from BoG to Bolster Fuel Supply Stability

Six Bulk Oil Distribution Companies (BDCs) have secured $20 million from the Bank of Ghana (BoG) in the latest round of the central bank’s foreign exchange forward auction.

The auction, held on Wednesday, May 28, was priced at a locked exchange rate of GHS10.33 to the US dollar, with bid offers ranging between GHS9 and GHS10.

The intervention forms part of the BoG’s broader strategy to shore up forex liquidity for the downstream petroleum sector amid persistent volatility in global energy markets.

By directly supplying foreign exchange to BDCs, the BoG aims to ease pressure on the interbank FX market, guarantee uninterrupted supply of petroleum products, and mitigate the impact of external shocks on domestic fuel prices.

The $20 million disbursed is the latest tranche under a $120 million programme for the second quarter of 2025. The programme, rolled out in April, is structured to release $20 million every two weeks to eligible BDCs to ensure adequate forex supply for fuel imports.

The initiative, according to the central bank, reflects its commitment to maintaining price stability and supporting critical sectors of the economy through targeted and timely liquidity interventions.