The Ghana Gold Board (GoldBod) generated US$1.871 billion in foreign exchange from its artisanal and small-scale mining (ASM) gold trade operations in September 2026, surpassing its monthly target of US$1.4 billion by more than US$470 million.
The achievement was announced by GoldBod’s Finance and Trading Directorate in its September 2026 foreign exchange generation and sales update.
According to the statement, the foreign exchange earnings were generated in line with GoldBod’s mandate under Section 2(b) of Act 1140.
Out of the total amount generated, US$701.3 million was sold to authorized commercial banks, slightly exceeding the institution’s target of US$700 million for supporting stability in the foreign exchange market.
The remaining US$1.170 billion was provided to the Bank of Ghana, significantly above the targeted US$700 million, to support the country’s reserve accumulation efforts.
GoldBod said the strong performance demonstrated its growing contribution to foreign exchange generation and macroeconomic stability.
Looking ahead, the institution projected that it would generate US$1.5 billion in foreign exchange in October 2026.
Under the forecast, US$1 billion will be made available to commercial banks to support foreign exchange market stability, while up to US$500 million will be supplied to the Bank of Ghana to strengthen the country’s reserves in line with the Ghana Gold Reserve Accumulation Programme (GOLDRAP).
GoldBod noted that the distribution of foreign exchange resources would be undertaken in accordance with its newly developed Spot FX Sales and Intermediation Framework.
The framework, according to the institution, is intended to enhance transparency, fairness and regulatory compliance in the management and sale of foreign exchange generated through its operations.
The Board reaffirmed its commitment to its statutory mandate of generating foreign exchange for Ghana and pledged to continue working closely with stakeholders to support economic stability and reserve growth.
The latest figures underscore the increasingly important role of GoldBod in supporting the country’s foreign exchange market and strengthening Ghana’s external reserves through gold-backed revenue generation.
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