{"id":18031,"date":"2019-12-30T06:51:04","date_gmt":"2019-12-30T06:51:04","guid":{"rendered":"https:\/\/www.nsemgh.com\/?p=18031"},"modified":"2019-12-30T06:51:04","modified_gmt":"2019-12-30T06:51:04","slug":"bog-to-auction-us715m-in-2020","status":"publish","type":"post","link":"https:\/\/www.nsemgh.com\/2019\/12\/30\/bog-to-auction-us715m-in-2020\/","title":{"rendered":"BoG to auction US$715m in 2020"},"content":{"rendered":"

classsfmonline.com<\/p>\n

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The Bank of Ghana will auction US$715 million in Forward Foreign Exchange Auctions in the whole of 2020.<\/p>\n

The months with the expected highest auctions of US$80 million each are January, February and March 2020.<\/p>\n

In accordance with the Foreign Exchange Forward Auction guidelines issued on the 23 September 2019, the Bank of Ghana said bids are invited as per the prescribed format to purchase\/sell US dollar against Ghana cedi separately on each auction date.<\/p>\n

The move to auction such an amount of US dollars is expected to help arrest, to some extent, the perennial depreciation of the cedi.<\/p>\n

Following recent trends, the cedi is expected to depreciate by about 13% to the US dollar in 2019.<\/p>\n

The Bank of Ghana, in October, began a Foreign Exchange Forward Rate Auction limited to 7-day, 15-day, 30-day, 45-day, 60-day and 75-day tenors.<\/p>\n

In addition to the auction guidelines, all Authorised Foreign Exchange Dealer Banks were to comply with the provisions of the Code of Conduct for the Interbank Foreign Exchange market in Ghana.<\/p>\n

Since the introduction Foreign Exchange Forward Rate Auction, it has been recording a significant oversubscription.<\/p>\n","protected":false},"excerpt":{"rendered":"

classsfmonline.com The Bank of Ghana will auction US$715 million in Forward Foreign Exchange Auctions in the whole of 2020. The months with the expected highest auctions of US$80 million each are January, February and March 2020. In accordance with the Foreign Exchange Forward Auction guidelines issued on the 23 September 2019, the Bank of Ghana […]<\/p>\n","protected":false},"author":10,"featured_media":18032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61],"tags":[6975,7358,9330,10957,5059,7823,7730,5195,9309,9127,192,10742,6348,3954],"class_list":["post-18031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-arrest","tag-bank","tag-banks","tag-bog","tag-cedi","tag-code","tag-depreciation","tag-dollar","tag-dollars","tag-february","tag-ghana","tag-market","tag-us","tag-will"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/18031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=18031"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/18031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/18032"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=18031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=18031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=18031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}