BoG to auction $120m to BDCs in quarter 4, 2024

The Bank of Ghana will auction $120 million to Bulk Oil Distribution Companies (BDCs) in Q4 2024, continuing the same amount sold in previous quarters.

$40 million will be auctioned monthly, with $20 million sold in each auction during October, November, and December.

Auctions will occur on specific dates, with bids accepted between 9:30 am and 10:30 am, and results announced by 3:00 pm.

This initiative aims to ensure sufficient foreign exchange liquidity for oil importers and improve overall dollar liquidity in the market.

Auction guidelines are available on the Bank of Ghana's website.