The Bank of Ghana (BoG) is set to auction $120 million to Bulk Oil Distribution Companies (BDCs) in the second quarter of 2025.
This forms part of its broader strategy to ease foreign exchange (FX) demand pressures and support the stability of the Ghana Cedi.
The auction calendar, scheduled across six dates from April to June, are exclusively for Bulk Oil Distribution Companies to secure dollars for petroleum imports, a key driver of forex demand in the country.
Each auction will offer $20 million, bringing the total allocation for the second quarter to $120 million.
The auctions form part of targeted interventions by the Central Bank to manage volatility in the foreign exchange market, especially in the downstream petroleum sector where dollar demand is typically high.
According to the published calendar, the first auction is set for April 10, with subsequent auctions on April 29, May 14 , May 28, June 12 and June 26.
“The Bank of Ghana announces for the information of all Authorised Foreign Exchange Dealing Banks, the Bulk Oil Distribution Companies (BDCs) FX forward Auction Calendar for the second quarter of 2025. In accordance with the BDCs Forex Forward Auction guidelines, bids are invited as per the prescribed format to purchase United States Dollars against Ghana cedis, separately on each auction date and should be submitted via the dedicated email [email protected],” part of a statement issued the Central Bank read.
Bids are to be submitted by authorised foreign exchange dealing banks on behalf of BDCs during designated hours on each auction day. The results of each auction will be announced later in the afternoon.
The Central Bank has urged all authorised dealers to adhere strictly to the auction guidelines available on its website.