GoldBod beats September FX target, eyes US$1.5bn in October

The Ghana Gold Board (GoldBod) exceeded its September foreign exchange target, generating US$1.871 billion from its small-scale gold trade, exceeding the US$1.4 billion goal by US$471 million. This announcement was made on September 30, 2026. To maintain foreign exchange market stability, GoldBod sold US$701.3 million to commercial banks, slightly surpassing its US$700 million target.

Additionally, it contributed US$1.170 billion to the Bank of Ghana's reserves, outpacing the initial US$700 million plan. Looking ahead to October, GoldBod anticipates earning US$1.5 billion. The entity intends to allocate US$1 billion to commercial banks and provide the Bank of Ghana with up to US$500 million for reserves, aligning with the GANRAP guidelines.

GoldBod will now adhere to a new set of rules, known as the Spot FX Sales/Intermediation Framework, aimed at enhancing transparency, fairness, and regulatory compliance in its foreign currency sales operations. The Board emphasized its ongoing commitment to generating foreign exchange for Ghana and reiterated its dedication to collaborating closely with all relevant stakeholders.