The Bank of Ghana (BoG) has released the Q1 2025 Forex Auction Calendar for Bulk Oil Distribution Companies (BDCs) indicating a total of $120 million to be sold over 6 auctions. These auctions are aimed at providing BDCs forex at below market rates for the importation of fuel. The transactions are forward contracts that are settled in 30 days.

The latest auction was held on December 13 with $20 million being sold at 14.8133. Ghana imports an average of $360 million worth of fuel each month with the auctions providing only about 11% of the forex requirements of the BDCs.