On March 30, 2022, the Bank of Ghana will hold a Foreign Exchange Forward Auction with a tenor of 30 days.
In addition to the guidelines for Bulk Oil Distributing Companies (BDCs) FX Auctions, all Authorized Foreign Exchange Dealer Banks must follow the provisions of Ghana’s Interbank Foreign Exchange Market Code of Conduct.
Contracts must be valid for the current window between 1st and 15th April 2022.
- Consolidated Bank Ghana fulfils annual 50 laptops donation to KNUST
- Ghana gets a new country cooperation framework from the World Bank Group.
Evidence of sales to Oil Marketing Companies within the last three months; BDCs are to deposit all sales proceeds into an escrow account with their bidding banks for the window in which they participate in an auction. This will be closely monitored.
Banks are required to pass on FX won by BDCs at the winning bid rates with no spreads. Bank of Ghana reserves the sole right to auction allocation. All results announced are final.
