The Ghana Gold Board (GoldBod) generated US$1.871 billion in foreign exchange from its artisanal and small-scale mining gold trading operations in September 2026, exceeding its monthly target by US$471 million.
GoldBod had set a foreign exchange generation target of US$1.4 billion for September. The latest performance therefore represents 134 percent of the target for the month.
According to the Board’s September foreign exchange generation and sales update, US$701.3 million of the amount generated was sold to authorised commercial banks.
The amount slightly exceeded the US$700 million target set for sales to commercial banks. GoldBod said the sales were intended to support stability in Ghana’s foreign exchange market.
A further US$1.170 billion was provided to the Bank of Ghana (BoG), significantly exceeding the central bank’s US$700 million target for the month.
The funds provided to the BoG are intended to support the accumulation of Ghana’s foreign exchange reserves under the country’s reserve accumulation policy.
GoldBod’s September performance follows the introduction of a new financing model for its artisanal and small-scale mining gold operations and the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
The Board generated US$1.315 billion in foreign exchange in August, its first month under the new financing arrangement. Of that amount, US$668.21 million was sold directly to commercial banks through spot sales and funded forward arrangements, while US$646.59 million was made available to the BoG for reserve accumulation.
For October, GoldBod has set another foreign exchange generation target of US$1.5 billion.
Under the October programme, US$1 billion is expected to be made available to commercial banks to support foreign exchange market stability, while up to US$500 million will be provided to the Bank of Ghana to support the accumulation of the country’s reserves.
GoldBod said the October transactions will be conducted under its newly developed Spot FX Sales/Intermediation Framework.
The framework is intended to strengthen transparency, fairness and regulatory compliance in the management of foreign exchange sales and intermediation.
The October programme also marks a change in the arrangement between GoldBod and the Bank of Ghana, with GoldBod assuming full responsibility for foreign exchange intermediation.
GoldBod said it remains committed to its statutory mandate of generating foreign exchange for Ghana through its gold trading operations and will continue working with relevant stakeholders to implement its FX generation and sales programme.
The September figures underline the increasing role of GoldBod’s gold trading operations in generating foreign exchange for the country, supporting market liquidity and contributing to the accumulation of Ghana’s international reserves.
Source: Thepressradio.com
