Over 70 persons mostly foreigners belonging to entities engaging in illegal forex market operations, also known as the black market have been arrested by officials of Bank of Ghana (BoG) and the police. The crackdown was conducted in areas identified … Read more →
The Bank of Ghana will sell a total of $420 million to Bulk Oil Distribution Companies via banks in the final quarter of this year, in its Foreign Exchange Auctions. This is higher than the amount it sold to the … Read more →
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has, at an emergency meeting held on Wednesday August 17, increased the Policy rate from 19 to 22 per cent. Governor of the BoG Dr Ernest Addison said recent … Read more →
The Bank of Ghana has dismissed reports that it has banned the opening of dollar accounts. In a public notice, the Central Bank said it has not issued any directive to local banks in this regard. Media reports had indicated … Read more →
The Ghana Chamber of Bulk Oil Distributors (CBOD), has called on other players in the foreign exchange supply market to step up their efforts to ensure the demand for US Dollars by Bulk Distributing Companies (BDCs) is met. This, according … Read more →
Since the introduction of mobile money (MOMO) loans by the telecommunication companies (telecos), some of their customers have taken undue advantage of the opportunity. While some have taken the loans to either start or recapitalise their businesses, others have accessed … Read more →
Regardless of the hike in inflation rate in recent months, the Bank of Ghana is optimistic prices of goods and services will come down in the coming days, weeks and months. This pledge is coming after increases in transportation fares … Read more →
The Bank of Ghana (BoG) has increased policy rate by 200 basis points to 19 percent at the Monetary Police Committee (MPC) meeting on Monday May 23. The MPC attributed the decision to up the policy to increasing inflation rate. Experts had … Read more →
The Bank of Ghana will sell a total of $350 million dollars to authorised dealers in the second quarter of this year, in the Foreign Exchange Forward Auction. This is in accordance with the Foreign Exchange Forward Auction Guidelines. The … Read more →
The Bank of Ghana (BoG) has confirmed the dismissal of two employees who presented “fake certificates” to gain employment at the central bank. In a press statement issued Tuesday evening [January 18, 2022], the BoG said reports suggesting that 90 percent … Read more →