ACCRA Feb 5 Ghana's central bank on Wednesday
tightened rules on the operation of foreign currency denominated
accounts in a bid to stem currency depreciation, Governor Henry
Kofi Wampah told Reuters.
The new measures to be implemented immediately require
foreign exchange purchased for the settlement of import bills to
be lodged in a special margin account that must be drawn within
30 days, according to details of the regulations seen by
In addition, the Bank has scrapped transfers between
accounts denominated in a foreign currency.It also directed that
proceeds from exports should be converted into the cedi currency
within five working days.
(Reporting by Kwasi Kpodo; Editing by Matthew Mpoke Bigg)