Audio By Carbonatix
Total bids outstripped sale of US dollar auctioning by $82 million on 26th July 2022, the Bank of Ghana (BoG) has revealed.
According to the Central Bank, total bids submitted by dealers or the banks were $107 million, as against $25 million of the amount accepted.
This indicates why the cedi has come under severe pressure in recent days, losing ground against the American ‘greenback’. The demand for the American currency has been very high.
$51.25 million of the 7-day tenor was the highest bid by the dealers, followed by $28.75 million for the 15-day tenor.
The 30-day tenor received bids worth $19.75 million, whilst the 45-day tenor received bids of $4 million.
The rates for the 7-day tenor were priced within the range of ¢8.09 and ¢8.20. That of the 15-day were within the range of ¢8.14 and ¢8.25.
Overall, 150 bids were submitted by the dealers, but 34 of the bids were accepted.
Latest Stories
-
Trade Minister applauds GUTA as a pillar of economic growth; Prez Mahama honoured
29 minutes -
President’s brother’s takeover of Damang Mines is ‘untidy’ – Alhassan Tampuli
35 minutes -
It’s not true that gov’t decided not to renew the lease for Gold Fields – Bobby Banson
39 minutes -
Ghana to boost tomato production with 60-hectare irrigated farms and processing initiatives
57 minutes -
E&P’s takeover process of Damang Mines was very clean – Inusah Fuseini
1 hour -
Damang takeover: There is not going to be any job loss; it is a lease change – Bobby Banson
1 hour -
Gold Fields didn’t stop mining at Damang mines; such claims are untrue – Bobby Banson
2 hours -
Engineers and Planners currently operate only in Ghana – Bright Simons
2 hours -
Lands Minister has no legal basis to restrict lease to Ghanaian firms – Bright Simons
2 hours -
Gov’t’s refusal to renew Gold Fields’ lease was simply untenable – Bright Simons
2 hours -
SOS Children’s Villages Ghana deepens partnership with Gender Ministry
2 hours -
Gender Ministry celebrates Christina Koch, reaffirms commitment to empowering girls
2 hours -
Live stream: Newsfile digs into E&P’s takeover of Damang Mines, OSP powers and Anti-LGBTQ Bill
3 hours -
Moody’s maintains Ghana’s rating at Caa1, revises outlook to positive
3 hours -
Zambia elevates tourism education to national priority as President Hichilema backs continental summit
4 hours