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how cocoa contribute to foreign exchange in Ghana
Exports of raw cocoa beans are a key source of foreign exchange for Ghana's central bank. Ghana's cocoa sector is regulated by the state-owned marketing board Cocobod. Cocobod has a monopoly, through its subsidiary Cocoa Marketing Company, over the marketing of Ghanaian cocoa beans.
Currency transactions by Ghanaian banks are set to double as the government starts to auction foreign exchange raised by the country's cocoa-exporting body, allowing companies to bid for dollars rather than buy them from the black market or exchange bureaus.
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