BoG to auction $450m in first quarter of 2022

Dr. Ernest Addison, Governor of the Bank of Ghana

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The Bank of Ghana will auction $450 million dollars in the first quarter of this year.

The move is expected to help bolster the performance of the local currency against the dollar.

The Central Bank has therefore announced to all Authorised Foreign Exchange Dealing Banks the Auction Calendar for Foreign Exchange Forward Auctions to be held in the first quarter of 2022.

In accordance with the Foreign Exchange Forward Auctions Guideline, bids would be invited as per the prescribed format to purchase United States dollars against the Ghana cedis, separately on each auction date and should be submitted via the dedicated email, bogforwards@bog.gov.gh.

The Central Bank will also from quarterly basis publish an auction calendar for the Foreign Exchange Forward Auction.

The calendar will be published one week preceding the next quarter on BoG website.

The competitive multiple-priced Foreign Exchange Forward Auction will be governed by the guidelines published and available on the Bank of Ghana website.

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Foreign Exchange Forward Auctions