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    Home » BoG Directs Shipping Industry
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    BoG Directs Shipping Industry

    To Use Transparent, Market-Based Exchange Rates
    NhyiraBy NhyiraJuly 23, 2025No Comments2 Mins Read0 Views
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    The Bank of Ghana (BoG) has issued a new directive to all players in the shipping and logistics sector, mandating the use of transparent and market-reflective exchange rates in their pricing models. The directive, which takes effect from Monday, July 22, 2025, is part of a broader effort by the central bank to standardize foreign exchange (FX) practices and ensure greater transparency across Ghana’s foreign trade value chain.

    According to the BoG, the new guidelines aim to promote consistency, prevent arbitrage, and enhance regulatory compliance within the shipping industry, which plays a pivotal role in Ghana’s import and export ecosystem. By aligning pricing mechanisms with prevailing interbank market rates, the central bank believes the new regime will curb speculative practices and protect consumers and businesses from arbitrary FX markups.

    “The adoption of market-reflective exchange rates is not just a regulatory necessity; it is a step toward a more accountable and resilient foreign exchange environment,” the Bank said in a statement.

    Industry players, including freight forwarders, shipping agents, and port operators, are now required to display their applicable exchange rates clearly and update them regularly to reflect current market conditions. The BoG has also warned that non-compliance with the directive could attract sanctions, including penalties and possible suspension of operating licenses.

    This move aligns with ongoing efforts by the government to stabilize the cedi and reinforce confidence in the FX market. It is also expected to foster a more level playing field for businesses involved in cross-border trade.

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