GoldBod sells $125m to commercial banks in maiden FX auction

Of this amount, US$1 billion will be sold to commercial banks, while the remaining US$500 million will be advanced to the Bank of Ghana to support the accumulation of foreign exchange reserves.

The Ghana Gold Board (GoldBod) has sold approximately US$125 million to commercial banks in its maiden foreign exchange auction under its new spot FX sales and intermediation framework.$1bn FX Sales to Banks GoldBod earlier announced plans to sell US$1 billion to commercial banks during the month to support stability in the foreign exchange market.