Ghana to Launch First Foreign Exchange Auction From Cocoa Loans
Ghana will start its first foreign-exchange auction by inviting bids for the proceeds from the cocoa regulator’s syndicated loans as the West African country seeks to liberalize its currency markets.
“We will start with a rules-based market-driven auction,” Bank of Ghana Governor Abdul Nashiru Issahaku told reporters Monday in the capital, Accra. “Banks will come to the auction and bid for the proceeds.”
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