The Ghana Gold Board (GoldBod) generated US$1.871 billion in foreign exchange in September 2026, exceeding its monthly target by US$471 million as proceeds from artisanal and small-scale mining gold trading supported commercial banks and the Bank of Ghana.
The performance represents approximately 34% above the US$1.4 billion target announced at the beginning of September.
In a statement issued on Wednesday, September 30, GoldBod's Finance and Trading Directorate disclosed that US$701.3 million was sold to authorised commercial banks, marginally exceeding its US$700 million target.
Another US$1.170 billion was provided to the Bank of Ghana to support international reserve accumulation, considerably above the initial US$700 million allocation.
GoldBod Exceeds September FX Projections
The figures show that reserve accumulation accounted for the larger share of foreign exchange generated during September.
GoldBod said the transactions were undertaken in accordance with its mandate under Section 2(b) of the Ghana Gold Board Act, 2025 (Act 1140).
The September outcome also exceeded the US$1.315 billion generated in August, when the Board began implementing its new collaborative financing arrangement.
During August, US$668.21 million was sold to commercial banks, while US$646.59 million was made available to the central bank.
US$1.5bn Target Set for October
Looking ahead, GoldBod projects foreign exchange generation of US$1.5 billion in October 2026.
Of that amount, US$1 billion is earmarked for commercial banks to support foreign exchange market stability, while up to US$500 million will be provided to the Bank of Ghana under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
The Board said October transactions would follow its newly developed Spot FX Sales/Intermediation Framework, designed to strengthen transparency, fairness and regulatory compliance.
GoldBod reaffirmed its commitment to working with financial sector stakeholders to generate foreign exchange and support Ghana's reserve accumulation objectives.
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