GoldBod cites US$130m FX sale as cedi records weeks of appreciation
The Ghana Gold Board (GoldBod) has cited a US$130 million spot foreign exchange sale at GH¢11.60 per dollar as part of efforts to support the cedi and strengthen stability on the foreign exchange market.
The Ghana Gold Board (GoldBod) recently announced a US$130 million spot foreign exchange sale as part of its efforts to support the cedi and stabilize the foreign exchange market. This intervention follows weeks of the cedi's strong performance, with it appreciating for over three consecutive weeks against the US dollar on the interbank market.
GoldBod's actions aim to alleviate pressure on the local currency by increasing the supply of foreign exchange in the market. As part of its October 2026 program, the Board plans to provide US$1 billion to authorized commercial banks and an additional US$500 million to the Bank of Ghana for reserve accumulation. This US$1.5 billion supply is part of GoldBod's comprehensive foreign exchange intervention program, which seeks to support the Ghana cedi's recovery and overall economic stability.
GoldBod's efforts remain centered on ensuring foreign exchange market stability and contributing to Ghana's broader economic recovery journey.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
