BoG issues new guidelines for operation of non-resident margin accounts, strengthens FX rules

The objectives of the guidelines are to preserve the integrity and orderly function of the domestic foreign exchange market and to support the monetary operations of the Bank of Ghana; strengthen the functioning of the domestic interbank foreign exchange market; enhance the transparency, auditability, traceability and regulatory oversight of cross-border foreign exchange flows and mitigate the risk of regulatory arbitrage and circumvention of existing foreign exchange controls.

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