The Bank of Ghana (BoG) has on Monday fined Barclays Bank an amount of ¢4,579,256.36 for making frivolous quotes on Ghana’s Interbank Foreign Exchange Market.
A statement issued by the Bank of Ghana indicates that “The Bank of Ghana is committed to ensuring sanity, transparency and promoting best practices that serve to develop and deepen the FX market in Ghana”.
“In pursuit of the above goals, the Bank of Ghana will not hesitate to sanction any market participant whose actions contravene Ghana’s Interbank FX Market Conduct Rules,” the statement added.
Below is the statement issued by the Bank of Ghana
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Comments
THIS IS THIS WHAT HAPPENED WHEN EUROPEAN UNION CHARGE FOREIGN BANKS FOR ABUSING THE FOREX FEW MONTHS AGO AND THEY WERE CHARGE AS WELL. KEEP WATCHING TESE BANKS CAUSING THE LOCAL CURRENCY FLATUATIONS WITH THEIR FOREX MANUPULATIONS REAL THE GAME MOST INTERNATIONAL BANKS PLAY RECENTLY THE EUROPEAN UNION CHARGE INTERNATIONAL BANKS FOR MANUPULATING FOREX AND WERE SLAPPED WITH FINES GOOGLE TO CHECK.