Tag: Dollarisation
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BoG accepts less than 50% of bids in last dollar auction in June
The Bank of Ghana in its last auction of forex in June, received 33% of the total amount of dollars dealers bid for. The total bids were also about three times lower than the figure offered by the dealers. For the last auction in June 2020, the Forex Auction Committee of the Bank of Ghana…
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Benchmarking prices of goods and services against the exchange rate illegal – BoG Governor
The Governor of the Bank of Ghana, BoG, Dr. Ernest Addison, has reiterated that it is illegal to price goods and services in foreign currencies such as the U.S dollar. Despite the existence of the law, the practice exists in many facets of the Ghanaian economy as some businesses have even adopted new ways by…