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In July 2005, the daily trading price of the US dollar against the renminbi in the inter-bank foreign exchange market was allowed to float within a narrow band of 0.3% around the central parity [58] published by the People's Bank of China; in a later announcement published on 18 May 2007, the band was extended to 0.5%. [59]
The country's foreign trade, monetary and fiscal policies affect the exchange rate fluctuations. Foreign trade includes policies such as tariffs and import standards for commodity exports. The impact of monetary policy on the total amount and yield of money directly determines the changes in the international exchange rate.
Public procurement in Ghana is undertaken and overseen by the Public Procurement Authority of Ghana. [178] The Public Procurement Board is the central body for policy formulation on procurement. The existing Public Procurement Act 2003 (Act 663) was amended by the Public Procurement (Amendment) Act 2016 (Act 914), which came into effect on 1 ...