The Ghana Gold Board (GoldBod) says it expects to generate US$1.4 billion in foreign exchange in September 2026 as part of efforts to support Ghana’s foreign exchange market and build the country’s reserves.
According to an announcement issued by GoldBod’s Finance and Trading Directorate on Monday, August 31, US$700 million of the projected amount will be made available to commercial banks to support foreign exchange market stability.
The remaining amount, also up to US$700 million, will be provided to the Bank of Ghana for reserve accumulation under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
GoldBod said the projection follows the approval of GANRAP by Cabinet and Parliament, after which the Board held consultations with the Ministry of Finance, Bank of Ghana, commercial banks and other market stakeholders on a new collaborative financing model for artisanal and small-scale mining gold operations.
Implementation of the new model commenced on August 3, 2026.
GoldBod disclosed that in August 2026, it generated US$1.315 billion in foreign exchange under the new model.
Of that amount, US$668.21 million was sold directly to commercial banks through spot sales and funded forward arrangements to support foreign exchange market stability.
A further US$646.59 million was made available to the Bank of Ghana for reserve accumulation under GANRAP.
GoldBod said it remains committed to its statutory mandate of generating foreign exchange for Ghana and will continue to work transparently with stakeholders.
The September projection represents an increase of about US$85 million over the US$1.315 billion generated in August.
Read the statement below:
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