GoldBod Generates $1.87bn Forex In September

The Ghana Gold Board (GoldBod) generated US$1.871 billion in foreign exchange (forex) from its artisanal and small-scale mining (ASM) gold trading operations in September 2026.The amount exceeded the Board’s monthly target of US$1.4 billion by US$471 million.

In a statement issued by its Finance and Trading Directorate yesterday, GoldBod said: “In September 2026, the Ghana Gold Board (GoldBod) in accordance with its mandate under section 2(b) of ACT 1140, generated from its ASM gold trade operations, foreign exchange totalling US$1.871 billion against the announced monthly target of US$1.4 billion.”

Sammy Gyamfi, CEO of Ghana Gold Board

Of the total forex generated, US$701.3 million was sold to authorised commercial banks, slightly exceeding the set target of US$700 million. GoldBod said the sales were intended “to support FX market stability.”

It further provided US$1.170 billion to the Bank of Ghana (BoG) against a target of US$700 million, to support the accumulation of the country’s reserves.

October target

For October, GoldBod said it projected to generate US$1.5 billion in foreign exchange. It said US$1 billion of the projected amount would be made available to commercial banks to support forex market stability, while up to US$500 million would be provided to the Bank of Ghana to support reserve accumulation.

According to the statement, the reserve accumulation would be “in line with the GANRAP.”

GoldBod said the October forex sales would be conducted in accordance with its newly developed Spot FX Sales/Intermediation Framework, which it said was intended “to strengthen transparency, fairness and regulatory compliance.”

The Board said it remained committed to its statutory mandate, stating: “GoldBod remains committed to its statutory mandate to generate foreign exchange for Ghana and will continue to work closely with all stakeholders.”

The statement was issued by the Finance and Trading Directorate of the Ghana Gold Board and dated September 30, 2026

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