(1) The Bank may

(a) purchase and sell external convertible currencies;

(b) discount and re-discount treasury bills drawn in convertible currencies;

(c) purchase and sell bills of exchange drawn in convertible currencies;

(d) import, export, refine, hold, sell, transfer or otherwise deal in gold, gold coins and bullion and any other precious metals as determined by the Board; [Amended by Bank of Ghana (Amendment) Act, 2016 (Act 918) s.20]

(e) accept deposits from foreign banking institutions, international financial institutions, foreign governments and their agencies or the organs of the United Nations;

(f) acquire, hold and transfer foreign exchange and foreign government securities;

(g) maintain accounts with central banks and reputable international financial institutions;

(h) act as correspondent bank or agent for an international banking institution or a monetary authority; and

(i) Effect foreign exchange transactions of any kind.

(2) The Bank shall not acquire, hold or transfer any foreign government securities unless those securities are denominated in convertible currency.