The Bank of Ghana, in collaboration with the Ghana Police Service, has arrested over 70 people and entities participating within the business of shopping for and promoting international change with no licence from Bank of Ghana.

The transfer follows a particular operation carried out by the 2 establishments on international change parallel market operators, in any other case generally known as black market operators.

The perpetrators who have been recognized at sizzling spots throughout the Central Business District of Accra particularly the Rawlings Park, Makola, and Tudu are anticipated to face prosecution.

The ‘Black Market’ dealers are said to be contributing to the fast fall of the native forex to greenback and the other main foreign exchange.

Speaking to Citi News after the exercise, Head of Forex Exchange Bureau at the Bank of Ghana, Adjoa Konadu Torto, noted that the transfer is a part of measures to examine the free fall of the native forex.

“This special operation was part of the Bank’s overall strategy to sanitize the foreign exchange market. Other measures being put in place include enforcement of compliance from licensed foreign exchange bureaux particularly with the taking of customer identification (Ghana card) and issuance of electronic receipt for every forex transaction; intensified public sensitization and media engagements to educate the general public on forex rules and regulations, including the need to avoid the black market,” she said.

She indicated that the exercise will proceed in other components of the country within the coming days.

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