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, known as GoldBod, has disclosed a massive US$130 million foreign exchange sale at a rate of GH¢11.60 per dollar. This significant move aims to bolster the local currency, the cedi, and enhance stability in the foreign exchange market. The Board's announcement was made on Thursday, October 22, via a Facebook post.
GoldBod's interventions are proving effective, as the cedi has experienced more than three weeks of continuous appreciation against the US dollar on the interbank market. The Board's actions are designed to alleviate pressure on the local currency by boosting the supply of foreign exchange in the market. This strategy is part of GoldBod's October 2026 programme, which aims to inject a total of US$1.5 billion into authorized commercial banks and provide an additional US$500 million to the Bank of Ghana for reserve accumulation.
The Board's broader foreign exchange intervention programme is focused on supporting the recovery and stability of the Ghana cedi.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
