The Bank of Ghana (BoG) has announced plans to auction $120 million to Bulk Oil Distribution Companies (BDCs) in the second quarter of 2025, as part of efforts to stabilize the Ghana Cedi and ease foreign exchange (FX) demand pressures.
The FX auctions will take place on six scheduled dates between April and June, with each round offering $20 million exclusively to BDCs.
These targeted interventions are designed to support petroleum imports, a major source of FX demand in Ghana.
The auction schedule for the 2nd quarter of 2025 are April 10, April 29, May 14, May 28, June 12, and June 26.
Each auction will be conducted through authorised foreign exchange dealing banks, which are required to submit bids on behalf of the BDCs.
Bids must follow the standard format and be emailed to bogforwards@bog.gov.gh during the designated hours on each auction day.
An official statement by the BoG stated, “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.”
Auction results will be published later in the afternoon on each auction date.
The petroleum sector is one of Ghana’s largest consumers of foreign exchange. By providing dedicated dollar support to BDCs, the Central Bank aims to reduce pressure on the spot FX market, enhance price stability and mitigate exchange rate volatility.
The BoG has urged all participating banks and BDCs to strictly comply with the auction guidelines, which are available on its official website.
By: J.W Quarm.
