BoG will begin foreign exchange (FX) intermediation in October as part of its Domestic Gold Purchase Program.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The Bank of Ghana (BoG) has announced plans to commence foreign exchange (FX) intermediation under its Domestic Gold Purchase Programme starting in October 2025.

The central bank intends to sell up to US$1.15 billion in FX for the month as part of efforts to strengthen market transparency and enhance price discovery.

According to the BoG, the sales will be conducted on a spot basis through twice-weekly, price-competitive auctions open to all licensed banks.

The BoG emphasised that there will be no earmarking or special conditions attached to allocations, ensuring a level playing field and transparent access for all market participants.

Source: newsthemegh.com