Audio By Carbonatix
The Bank of Ghana will auction $120 million to Bulk Oil Distribution Companies (BDCs) in the second quarter of 2025.
This is the same amount it sold to the BDCs in the first quarter of 2025.
According to its Forex Forward Auction Calendar, $40 million will be sold to the BDCs in each month of quarter 2, 2025.
In April 2025, the Central Bank will auction $20 million each to the BDCs.
The same will be done in May 2025, as two auctions will take place on May 14 and May 28, 2025, respectively.
It would also sell $20 million each to the BDCs on June 12, 2025, and June 26, 2025, respectively.
The Central Bank mentioned in a notice that the timelines for each auction would be between 9.30 am and 10.30 am on the date of the auction, whilst the announcement of the auction will be made at 3.00 pm.
It concluded that the BDCs Forex Forward Auction will be governed by the guidelines published and available on the Bank of Ghana website.
The sale of US dollars to the BDCs is to ensure that the oil importers have adequate foreign exchange liquidity to purchase finished oil products for consumption.
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