The Ghana Gold Board (GoldBod) has announced plans to inject US$1.5 billion into Ghana’s foreign exchange market in October 2026, in a move aimed at improving dollar availability and sustaining the cedi’s recent appreciation against the US dollar.
Under the planned intervention, US$1 billion will be supplied to authorised commercial banks, while the remaining US$500 million will be channelled to the Bank of Ghana (BoG) to support the accumulation of international reserves.
In a Facebook post on Thursday, October 22, GoldBod said its foreign exchange interventions were contributing to efforts to stabilise the local currency and strengthen conditions in the foreign exchange market.
The Board noted that the cedi had appreciated against the dollar for more than three consecutive weeks on the interbank market, attributing the improvement partly to increased foreign exchange supply and improved dollar liquidity.
As part of the measures, GoldBod also cited a spot foreign exchange sale of US$130 million at a rate of GH¢11.60 to the dollar.
The planned injection is expected to support commercial banks’ access to foreign currency while strengthening the Bank of Ghana’s reserves, although the ultimate effect will depend on market demand and other economic conditions.
GoldBod said the interventions formed part of its broader commitment to foreign exchange market stability and Ghana’s economic recovery.
The announcement comes amid efforts to maintain the cedi’s gains and ease pressure on businesses and other market participants that depend on access to foreign currency.
