The Bank of Ghana (BoG) has revoked licences of Airport City Forex Bureau within the Atlantic Tower Building and Trade House Forex Bureau at the Marina Mall in the Greater Accra region.
The closure of these forex bureaus follows failure by the operators to desist from issuing receipts as well as breaching the foreign exchange laws
According to the Head of Other Financial Institutions Supervision Department at the Bank of Ghana, Yaw Sapong, the exercise targeted at ensuring sanity in the forex market is expected to continue across the capital city, Accra.
Some market watchers believe the move by the Central Bank is a result of the fast depreciation of the cedi which they blame on the forex operators.