GoldBod generates US$1.87bn in FX in September, exceeds target

Of this amount, 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 Reserves Accumulation Programme (GANRAP).170 billion was provided to the Bank of Ghana, significantly exceeding the US$700 million target for reserve accumulation.3 million of the amount generated was sold to authorised commercial banks, slightly surpassing the US$700 million target set to support stability in the foreign exchange market.