The Bank of Ghana will sell a total of $350 million dollars to authorised dealers in the second quarter of this year, in the Foreign Exchange Forward Auction.
This is in accordance with the Foreign Exchange Forward Auction Guidelines.
The move is expected to boost the supply of dollars on the market to help improve the stability of the local currency.
According to the Central Bank, bids are invited as per the prescribed format to purchase the United States dollars against Ghana cedis, separately on each auction date.
$150 million are expected be sold in May 2022, whilst $100 million each will be sold on April 2022 and June 2022 respectively.
The Central Bank further said it will publish an auction calendar for the Foreign Exchange Forward Auction on quarterly basis.
Also, the calendar will be published one week preceding the next quarter on the Bank of Ghana website.
It concluded that the Competitive Multiple-priced Foreign Exchange Forward Auction will be governed by the guidelines published and available on the Bank of Ghana website.
Latest Stories
-
Government is committed to connecting every region with rail line – Peter Amewu
4 hours -
PAC orders Wa East DCE to release MP’s common fund with immediate effect
4 hours -
Ghana will not bear the cost of repairing faulty train – Railways Minister
4 hours -
You’re not an engineer; we inspected rail tracks before test run – Amewu tells Mahama
4 hours -
Photography, music and networking: Twinsdntbeg leads the way
5 hours -
Man, 20, electrocuted after heavy rainstorm in Central Tongu District
6 hours -
Four more grabbed and remanded over new train accident
6 hours -
Joseph Mensah: NYA starved of funds, multi-million projects left to rot
7 hours -
Let’s invest in photography to promote tourism – FYNNexhibits Executive Director
7 hours -
Court remands a house agent into custody for fraud
7 hours -
ECG revenue going into a single account doesn’t solve current power crisis – John Jinapor
7 hours -
Vote for NPP’s candidate, an independent MP can’t lobby for projects – Asenso-Boakye
7 hours -
We need to have a lifestyle audit of public officers – Dr Sakara
7 hours -
Global Learning Experience: UENR Students head to Slovakia for ERASMUS+ Programme
7 hours -
Cycling for Clean Air: James spares 188.365kg CO2 emissions compared to driving a saloon car to Accra
7 hours