BoG slashes September FX support to $500m as GoldBod directly injects $700m into the market

The Bank of Ghana (BoG) has significantly reduced its foreign exchange (FX) support to the market in September 2026 to just US$500 million. This reduction is due to a revised arrangement where foreign exchange receipts from the artisanal and small-scale mining sector are being redirected into the market. GoldBod, a key source of foreign exchange, generated US$1.32 billion in FX receipts in August, with US$668.21 million sold directly to commercial banks.

The remaining US$646.59 million was allocated to the BoG for reserve accumulation. GoldBod aims to generate US$1.4 billion in foreign exchange receipts in September, with US$700 million to be provided to commercial banks and another US$700 million to the BoG. The BoG has assured the market of its readiness to intervene when necessary to maintain orderly market conditions while preserving exchange rate flexibility.