The\u00a0Abossey-Okai Spare Parts Dealers Association has dismissed suggestions that latest revision of the forex rules by the Bank of Ghana (BOG) will have an immediate positive impact on their operations.<\/p>\n
The spare parts dealers have been on a crusade to force the complete reversal of the forex rules since its introduction in February.<\/p>\n
The BoG on Friday, August 8th<\/sup> further revised some of the Forex rules, the third time, after some clarifications on February 13 and revision on June 16.<\/p>\n According to the chairman of the Abossey-Okai Spare Parts Dealers Association Siaw Ampadu, the spare parts dealers will respond cautiously to the latest move by the bank of Ghana.<\/p>\n \u201cThe harm has been caused already; we are entertaining fears that after making that wrong decision things might even get worse before some stability later\u2026we welcome the decision but this decision cannot change anything \u201c, he said.<\/b><\/p>\n Meanwhile some forex bureau operators are confident of improved business in the coming months.<\/p>\n A Forex Bureau operator who spoke to Citi Business News<\/b> said \u201cbefore this, people normally bring a lot of dollars and pounds but after the instruction by the Bank of Ghana it reduced totally but now it\u2019s normalizing\u201d.<\/p>\n According to another operator there has been some recovery in their operations in the last two months but the immediate impact of the scrapping of some of the rules will be properly felt in the coming months.<\/p>\n In a related development the Ghana Chamber of Commerce and Industry has also expressed optimism, that the move will gradually restore business confidence in banking.<\/p>\n President of the Chamber,\u00a0Seth Adjei-Baah said \u2018it is in the right direction\u2026 let\u2019s hope people will have confidence in the directives\u2019.<\/p>\n <\/p>\n By:\u00a0 Rabui Alhassan\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" The\u00a0Abossey-Okai Spare Parts Dealers Association has dismissed suggestions that latest revision of the forex rules by the Bank of Ghana (BOG) will have an immediate positive impact on their operations. The spare parts dealers have been on a crusade to force the complete reversal of the forex rules since its introduction in February. The BoG […]<\/p>\n","protected":false},"author":14,"featured_media":8635,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[19],"tags":[4],"class_list":["post-39170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39170"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39170\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/8635"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}