GoldBod beats September target with US$1.87bn forex generation

The Ghana Gold Board (GoldBod) generated US$1.871 billion in foreign exchange in September 2026, surpassing its monthly target of US$1.4 billion. This impressive figure was achieved through the Board's artisanal and small-scale gold trading operations, which are carried out under its statutory mandate. The statement issued by GoldBod on September 30, 2026, revealed that the company sold US$701.3 million of the foreign exchange to authorized commercial banks during the month.

The aim of these sales was to maintain stability in the foreign exchange market, exceeding the Board's target of US$700 million. Additionally, GoldBod provided a substantial US$1.17 billion to the Bank of Ghana to bolster the nation's foreign exchange reserves, significantly surpassing its monthly target of US$700 million. Looking ahead to October, GoldBod anticipates generating US$1.5 billion in foreign exchange from its gold trading activities.

This projection is expected to be split, with US$1 billion made available to authorized commercial banks to support market stability, and the remaining US$500 million directed towards the Bank of Ghana to further bolster the country's foreign exchange reserves as part of the Ghana Accelerated National Reserves Accumulation Programme (GANRAP).

GoldBod has also introduced a new Spot FX Sales/Intermediation Framework, aimed at promoting transparency, fairness, and compliance with regulatory requirements in the foreign exchange market. The Board remains committed to its role in generating foreign exchange for Ghana and continues to collaborate with stakeholders to enhance the country's foreign exchange and reserve management efforts.