We haven’t handed over our forex role to Goldbod – BoG Governor
Bank of Ghana (BoG) Governor, Dr Johnson Asiama, has dismissed suggestions that the central bank has handed over its foreign exchange market responsibilities to Goldbod, saying it remains ready to intervene when necessary to maintain stability. He said the Bank’s focus on building reserves, with Goldbod supporting foreign exchange intermediation and market supply, did not […]
Dr Johnson Asiama, the Governor of the Bank of Ghana (BoG), has clarified that the central bank has not ceded its foreign exchange market responsibilities to Goldbod. He reiterated the bank's commitment to maintaining stability and its readiness to intervene when necessary. The BoG's focus is on building reserves, with Goldbod providing support through forex intermediation and market supply.
Since October 2026, Goldbod has facilitated the sale of approximately US$452 million to commercial banks through its GoFX platform, with US$1 billion earmarked for sale to commercial banks and US$500 million directed to the Bank of Ghana to support reserve accumulation. Despite recent pressure on the cedi, the Governor remains confident that conditions will normalize, attributing some of the pressure to profit-taking by multinational companies and anticipating ongoing reforms to aid stability.
The central bank's goal is to achieve six months of import cover by December through its reserve accumulation program.
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