Don't advertize rates outside -Forex Bureaux Ordered

The Bank of Ghana (BoG) has directed forex bureaux to stop displaying their rates outside their premises.

The decision was taken at a meeting with the leadership of the bureaux operators in Accra recently.

Investigations by THE GHANAIAN TIMES indicated that a team from BoG is monitoring the level of compliance and the defaulters would soon be sanctioned.

The directive, according to the BoG, is in favour of the bureaux since it has the advantage of increasing patronage, explaining that the non-placement of the rates outside would deprive the ?black market? of easily accessing the rates.

This, the BoG believes, would avoid a situation in which people in the ?black market? used the bureaux rates to operate.