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, exceeding its monthly target of US$1.4 billion.

According to the GoldBod’s September 2026 FX Generation and Sales Update, the amount was generated in accordance with its mandate under Section 2(b) of Act 1140.

Of the total foreign exchange generated, US$701.3 million was sold to authorised commercial banks. This exceeded the institution’s monthly target of US$700 million and was intended to support stability in the foreign exchange market.

GoldBod also provided US$1.170 billion to the Bank of Ghana (BoG), significantly above the set target of US$700 million, to support the accumulation of the country’s foreign exchange reserves.

For October 2026, GoldBod projects that it will generate US$1.5 billion in foreign exchange from its operations.

Of the projected amount, US$1 billion is expected to be made available to authorised 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).

GoldBod said the October FX sales and intermediation will be conducted under its newly developed Spot FX Sales/Intermediation Framework.

The framework is intended to strengthen transparency, fairness and regulatory compliance in GoldBod’s foreign exchange operations.

GoldBod reaffirmed its commitment to its statutory mandate of generating foreign exchange for Ghana and said it would continue working with relevant stakeholders to support the country’s foreign exchange and reserve objectives.