The Ghana Gold Board (GoldBod) has significantly exceeded its foreign exchange generation target for September 2026, recording US$1.871 billion from its artisanal and small-scale mining (ASM) gold trading operations.
The figure represents an excess of about US$471 million over GoldBod’s monthly target of US$1.4 billion, with a substantial portion of the funds directed to the Bank of Ghana to strengthen the country’s foreign exchange reserves.
According to GoldBod’s announcement issued on Wednesday, September 30, US$1.170 billion of the proceeds was provided to the Bank of Ghana for reserve accumulation, surpassing the central bank’s September target of US$700 million by US$470 million.
A further US$701.3 million was sold to authorised commercial banks, slightly exceeding the US$700 million target set to support stability in the foreign exchange market.
The September performance means the Bank of Ghana received the larger share of the forex generated by GoldBod during the month, as authorities continue efforts to bolster reserves and improve conditions in the foreign exchange market.
GoldBod targets US$1.5bn in October
GoldBod has set a lower but still substantial target of US$1.5 billion in foreign exchange generation for October 2026.
Under the October projection, US$1 billion is expected to be made available to authorised commercial banks to support liquidity and stability in the foreign exchange market.
The remaining US$500 million could be channelled to the Bank of Ghana to support reserve accumulation under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
GoldBod said the planned forex sales will be carried out under its newly developed Spot FX Sales/Intermediation Framework, which it said is designed to promote transparency, fairness and regulatory compliance in the management of its foreign exchange transactions.
The latest figures place GoldBod’s gold trading operations at the centre of ongoing efforts to increase foreign exchange supply, strengthen Ghana’s reserves and support stability in the domestic currency market.
