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.
Latest Stories
-
KATH OPD resumes full operations after suspension of doctors’ strike
4 minutes -
Ahmad Tea announces Antoine Semenyo as Global Brand Ambassador
5 minutes -
Tarkwa-Nsuaem NPP elections halted by Sekondi High Court over injunction application
7 minutes -
Ghana’s unemployment pegged at 13.1%, inequality at 43.5%
8 minutes -
GMet warns of heightened flood risk in Accra as June rainfall projected to intensify
10 minutes -
Tension at Afari Military Hospital as soldiers block Minority MPs’ inspection of abandoned facility
15 minutes -
CSIR warns Ghana’s soil health is deteriorating, calls for urgent national action
25 minutes -
Two feared swept away after River Agyei overflows Kasoa–Domeabra road
29 minutes -
Tony Elumelu appointed chairman of Seplat Energy
42 minutes -
Education Minister raises alarm over indiscipline in SHSs, announces national reform conference
44 minutes -
Lom Ahlijah advocates tech-based monitoring in schools after assault case
48 minutes -
UTAG threatens nationwide strike over delay in book and research allowance rate
56 minutes -
Boundary Commission urges border residents to protect boundary pillars and support national security
58 minutes -
Ghana to grow at 5.0% GDP in 2026, but faces huge investment financing gap – AfDB
60 minutes -
Deputy AG, 14 CSOs appear at Supreme Court for hearing on challenge to OSP’s prosecutorial powers
1 hour