Accra: The Bank of Ghana (BoG) will commence foreign exchange (FX) intermediation under the Domestic Gold Purchase Programme, with plans to sell up to US$1.15 billion for the month. These sales will be conducted on a spot basis through twice-weekly, price-competitive auctions open to all licensed banks.
According to Ghana News Agency, Dr. Johnson Pandit Asiama, the Governor, made this known during a post-Monetary Policy Committee engagement with heads of banks. He disclosed that there will be no conditions or earmarking for allocations to ensure a level playing field and transparent access to the market.
Dr. Asiama noted that monthly auction volumes may be adjusted depending on evolving market conditions, but the overarching objective remains clear: to deepen the interbank FX market, enhance price discovery, and smooth volatility. He further indicated that the central bank remained committed to transparency and would continue to disclose all foreign exchange market operations and outcomes in line with best international practice.
He also commended the banking industry for maintaining strong performance and resilience.