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Business News of Friday, 17 August 2012

Source: myjoyonline.com

BoG moves to address shortage of dollar cash

The Bank of Ghana is moving fast to address the shortage of dollar cash for the operations of commercial banks.

JOY-BUSINESS has learnt the banks have been asked to formally submit their dollar cash requests for their needs to be met.

Some commercial banks and forex bureaus have had to turn to the black market over the past weeks due the limited supply of the currency.

They however blame the situation on the central bank’s directive which stops commercial banks from importing the dollar cash.

Meanwhile, JOY-BUSINESS’ interaction with some commercial shows that there has been some improvement in the supply of the foreign currency over the past three days.

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