GoldBod Supplies Banks with US$1.011bn in Forex, Targets US$1.2bn in November

The Ghana Gold Board (GoldBod) generated US$1.011 billion in foreign exchange from its artisanal and small-scale mining (ASM) gold trade operations in October 2026, with the entire amount sold to authorised commercial banks to support stability in Ghana’s foreign exchange market.

The October performance underscores GoldBod’s growing contribution to foreign exchange supply through its gold operations, in line with its statutory mandate under Section 2(b) of the Ghana Gold Board Act, 2025 (Act 1140).

According to an announcement issued by the Board’s Finance and Trade Directorate on November 2, the full US$1.011 billion generated during the month was sold to authorised commercial banks through the GoldBod GoFX platform.

The Board also projects to generate US$1.2 billion in foreign exchange from its ASM gold trade operations in November 2026, of which US$800 million is expected to be made available to commercial banks to support liquidity and stability in the foreign exchange market.

GoldBod said the planned sales would be conducted through its GoFX platform in accordance with the approved FX Sales and Intermediation Framework, which is designed to ensure transparency, fairness and regulatory compliance in the allocation and sale of foreign exchange.

The framework provides the institutional mechanism through which foreign exchange generated from the Board’s gold trade operations is made available to authorised market participants.

Beyond supplying foreign exchange to commercial banks, GoldBod reaffirmed its commitment to supporting the accumulation of Ghana’s international reserves through the Bank of Ghana, in accordance with the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).

The latest figures highlight the Board’s dual role in supporting foreign exchange availability in the banking sector and contributing to the country’s broader reserve accumulation objectives through gold exports.