The Ghana Gold Board (GoldBod) generated US$1.871 billion in foreign exchange (FX) from its artisanal and small-scale mining (ASM) gold trade operations in September 2026, exceeding its announced monthly target of US$1.4 billion.
According to a September 30, 2026 announcement by GoldBod, the amount generated represents an excess of US$471 million over the monthly target.
The foreign exchange was generated in accordance with GoldBod’s mandate under Section 2(b) of the Ghana Gold Board Act, 2025 (Act 1140).
Of the total FX generated, US$701.3 million was sold to authorised commercial banks, marginally exceeding the set target of US$700 million.
The sales to commercial banks are intended to support stability in the foreign exchange market.
A further US$1.170 billion was provided to the Bank of Ghana (BoG), significantly exceeding the US$700 million target set for the month.
GoldBod said the funds provided to the central bank would support the accumulation of Ghana’s foreign exchange reserves.
For October 2026, GoldBod projects to generate US$1.5 billion in foreign exchange.
Under the October projection, US$1 billion is expected to be made available to commercial banks to support FX market stability, while up to US$500 million will be provided to the Bank of Ghana to support reserve accumulation in line with the Ghana Accelerated National Reserve Accumulation Programme (GANRAP).
GoldBod said the October FX sales would be undertaken in accordance with its newly developed Spot FX Sales/Intermediation Framework.
The framework, it said, is intended to strengthen transparency, fairness and regulatory compliance in the sale and intermediation of foreign exchange.
GoldBod reaffirmed its commitment to its statutory mandate to generate foreign exchange for Ghana and said it would continue to work with stakeholders in implementing the programme.
By: Christian Kpesese
