Ghana’s GoldBod Generates $1.87 Billion in Foreign Exchange in September
Ghana’s gold sector has delivered a major boost to the country’s foreign exchange position, with the Ghana Gold Board (GoldBod) generating US$1.871 billion in foreign exchange in September 2026 from its artisanal and small-scale mining gold trade operations.
The figure exceeded GoldBod’s monthly target of US$1.4 billion by approximately US$471 million, representing 134 per cent of the target.
According to the Ghana News Agency, GoldBod said the September performance formed part of its mandate to generate foreign exchange through gold trading and support stability in Ghana’s foreign exchange market.
GoldBod exceeds September target
Of the US$1.871 billion generated during September, approximately US$701.3 million was sold to authorised commercial banks.
A further US$1.170 billion was provided to the Bank of Ghana to support the accumulation of foreign exchange reserves.
The figures represent an increase from August, when GoldBod generated approximately US$1.315 billion in foreign exchange.
GoldBod said its activities are being undertaken under the Ghana Gold Board Act, 2025 (Act 1140), which provides the statutory framework for the institution’s foreign exchange generation activities from gold trading.
October target set at $1.5 billion
Following its September performance, GoldBod has established a US$1.5 billion foreign exchange generation target for October 2026.
The organisation said US$1 billion of the expected amount will be made available to commercial banks to support foreign exchange market stability, while up to US$500 million will be provided to the Bank of Ghana to support reserve accumulation.
The October programme is also expected to operate under GoldBod’s new Spot FX Sales/Intermediation Framework.
The framework is intended to strengthen transparency, fairness and regulatory compliance in the management of foreign exchange sales and intermediation.
GoldBod has also assumed full responsibility for foreign exchange intermediation under the new arrangement, marking the exit of the Bank of Ghana from that role.
Importance for Ghana’s economy
Gold remains one of Ghana’s most important sources of foreign exchange, with developments in the sector having implications for the country’s reserves, currency market and wider economic stability.
The latest GoldBod figures therefore come as the government continues efforts to increase the country’s foreign exchange buffers.
The strong September performance also highlights the growing importance of the artisanal and small-scale mining sector within Ghana’s formal gold-trading framework.
GoldBod said it would continue working with stakeholders to implement its foreign exchange generation and sales programme.
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