GoldBod generates $1.8bn forex in September, targets $1.5bn October

170 billion was provided to the Bank of Ghana (BoG), significantly exceeding the set target of US$700 million, to support the accumulation of the foreign exchange reserves.“Of the projected amount, US$1 billion will 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 the building of Ghana’s reserves in line with the Ghana Accelerated National Reserves Accumulation Policy (GANRAP),” it said.

These FX sales are conducted in accordance with GoldBod’s mandate under Section 2(b) of the Ghana Gold Board Act, 2025 (Act 1140), which provides the statutory basis for the Board’s foreign exchange generation activities from its gold trade operations.