The Bank of Ghana has rolled out a new platform that is to ensure transparency in the foreign exchange trading among banks.
This platform which is known as the Refinitiv Matching is also expected to help in pricing cedi for forex trading.
The move by the Bank of Ghana is part of several efforts aimed at stabilizing the cedi.
Launching the new platform, Governor of the Bank of Ghana Dr Ernest Addison urged all banks in the country to get on board.
The Bank of Ghana has adopted the Refinitiv’s Spot matching platform as the market standard for interbank trading in lots of a minimum size of US$250,000.
The Refinitiv Spot Matching platform is a trusted primary FX market platform with unique features designed to support an order book that ensures back-to-back trading with firm prices in a transparent fashion to encourage genuine trading interest.
Story by Naa Anyema Collison