According to the Central Bank’s auction schedule, the proposed sale will take place during the forex forward auctions.
However, the $220 million is less than the $420 million that the Central Bank sold to BDCs via commercial banks during the same period in the fourth quarter of 2022.
The projected $200 million sale may not be enough to cover the country’s BDCs’ FX requirements, but the BoG still intends to sell $80 million in January 2023.
Following this, a total of $60 million will be sold to BDCs, with the transactions taking place in February and March of 2023, respectively.
