Tag: Forex
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CBOD calls for a more structured supply of Forex for petroleum products
The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors (CBOD), Senyo Hosi, has blamed the inadequate supply of foreign exchange for the procurement of petroleum products at the doorsteps of commercial banks in the country. The remark comes on the back of a report from Bloomberg which claimed that Ghana faces a…
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US$3 billion Eurobond hits Bank of Ghana’s accounts
The US$3 billion Eurobond issued by the government earlier this week has hit the accounts of the Bank of Ghana, a source close to the central bank has told Citi Business News. The funds from the three-pronged bond deal reached the central bank last Tuesday. The proceeds from the bond provide an improved cover for…
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Controlling forex supply: BoG to auction additional $125m
The Bank of Ghana is seeking to auction a total of $125,000,000 for the fourth quarter of 2019; spanning October to December. The exercise is expected to be carried out in five tranches covering the three months. For each tranche, the Central bank is seeking to auction $25,000,000. A notice by the Bank of Ghana…
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Bank of Ghana to start forex forward auction on Oct.1
The Bank of Ghana has announced that it would from October 1, 2019 start forward sales purchases of forex. The central bank in a notice on guidelines issued to forex dealers said the initiative which comes on the back of improved liquidity on the market and would deepen the foreign Exchange Market. Foreign exchange dealers…
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Bank of Ghana clears Barclays Bank over forex incident
The central bank has revealed that it reached an agreement with Barclays Bank, which was on Monday fined for breaching some forex trading conduct. Bank of Ghana earlier in the week fined the Barclays Bank GHC4.6 million for making “frivolous” quotes on Ghana’s Interbank Foreign Exchange Market. But a statement the banking regulator issued on…
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BoG fines Barclays Bank GHS4.6m over forex regulations breach
The central bank has announced that it has fined Barclays Bank Ghana an amount of GH¢4.6 million for making “frivolous” quotes on Ghana’s Interbank Foreign Exchange Market. A press release issued by the Bank of Ghana said Barclays’ action is in breach of the Ghana Interbank Forex Market Conduct Rules. “The Bank of Ghana is…