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Bank of Ghana to inject $120m into market for Oil Distributors in Q4 2024

Investmenttimes
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The Bank of Ghana (BoG) has announced plans to inject $120 million into the market through a series of auctions for Bulk Oil Distribution Companies (BDCs) in the fourth quarter of 2024. This move aims to stabilize the foreign exchange supply and support the fuel industry amidst ongoing global economic challenges. According to the BoG’s Forex Forward Auction Calendar, the central bank will offer $40 million per month throughout Q4. In October, two auctions will take place, each offering $20 million to BDCs. Similarly, in November, auctions scheduled for the 13th and 27th will also provide $20 million each. The...
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