BoG approves 24-carat gold coins to celebrate Asantehene’s 20-year reign

BoG approves 24-carat gold coins to celebrate Asantehene’s 20-year reign

- BoG has approved the issuance of 24-carat gold coins to honor the 20th anniversary of the Asantehene

- It would be out-doored on the 70th birthday of the Asantehene

- The coin would be exclusively auctioned to the public and proceeds used to fund the establishment of the Cultural Resource Centre

The Bank of Ghana(BoG) has approved the issuance of 24-carat gold coins to honor the 20th anniversary of the Asantehene, Otumfuo Osei Tutu II.

The coin is expected to be out-doored on the 70th birthday celebration of the Asantehene on May 6, 2020.

The coin would be exclusively auctioned to the public and proceeds used to fund the establishment of the Cultural Resource Centre, which would promote traditional and customary conflict resolution in the country.

READ ALSO: Girl-power: 8 genius Ghanaian women who made big corporate moves in 2019

Born as Nana Barima Kwaku Duah, Osei II is the 17th Asantehene of the Asante Kingdom.

Otumfuo is in direct succession to the 17th-century co-founder of the Ashanti Empire, Otumfuo Osei Tutu I. He was enstooled on 26 April 1999.

His 20th-anniversary commemoration was held on April 21, 2019, at the Dwabirem of the Manhyia Palace.

READ ALSO: 2019 cedi performance worst in 3-years under Akufo-Addo administration

In other news, the Bank of Ghana (BoG) has announced that it would auction US$715 million in Forward Foreign Exchange Auctions for the year 2020.

Per the schedule released by the Bank of Ghana, the central bank would have the highest auction of 80 million dollars each in January, February and March 2020.

According to the Bank of Ghana’s Foreign Exchange Forward Auction guidelines issued on September 23, 2019, the bids are invited as per the prescribed format to purchase or sell US dollar against Ghana cedi separately on each auction date.

The decision to auction such an amount of money is expected to help arrest the depreciation of the cedi to some extent.

READ ALSO: Arresting the dollar: BoG to sell US$715 million in 2020 to fight cedi depreciation

Source: Yen

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