{"id":313019,"date":"2017-04-22T13:28:18","date_gmt":"2017-04-22T13:28:18","guid":{"rendered":"http:\/\/citifmonline.com\/?p=313019"},"modified":"2017-04-22T13:28:18","modified_gmt":"2017-04-22T13:28:18","slug":"bog-cancels-auctioning-of-dollars-to-banks-2","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/04\/bog-cancels-auctioning-of-dollars-to-banks-2\/","title":{"rendered":"BoG cancels auctioning of dollars to banks"},"content":{"rendered":"
The Bank of Ghana(BoG) has cancelled the auctioning of dollars to banks in the country.<\/p>\n
The central bank in January this year announced plans to release $120 million onto the market for the first quarter of this year as part of its plan to help stabilize the cedi.<\/p>\n
The auction which was restricted to licensed foreign exchange dealing banks was scheduled for \u00a0$40 million in January, February and March this year, totaling\u00a0$120 million.<\/p>\n
But the Governor of the Bank of Ghana, Dr. Ernest Addison confirmed to Head of Business Desk at Citi FM, Vivian Kai Lokko at the sidelines of the Spring Meetings in Washington D.C that the auctioning of dollars ceased in March.<\/p>\n
He explained that the last auction for March was suspended.<\/p>\n