The Ghana Gold Board (GoldBod) generated US$1.871 billion in foreign exchange from its artisanal and small-scale mining (ASM) gold trading operations in September 2026, exceeding its monthly target by US$471 million, according to the institution.

The amount represented 134% of GoldBod’s target of US$1.4 billion for the month. The board said the foreign exchange generated through its gold trading operations was used to support stability in Ghana’s foreign exchange market and the accumulation of the country’s reserves.

Of the total, US$701.3 million was sold to authorised commercial banks, slightly above GoldBod’s US$700 million target, to support foreign exchange market stability.

A further US$1.170 billion was provided to the Bank of Ghana to support the accumulation of foreign exchange reserves. That amount was significantly above the central bank’s US$700 million target for the month.

The September result followed US$1.315 billion in foreign exchange generated by GoldBod in August. Of that amount, US$668.21 million was sold to commercial banks, while US$646.59 million was made available to the Bank of Ghana for reserve accumulation under the Ghana Accelerated National Reserve Accumulation Policy, or GANRAP.

For October, GoldBod has set a target of US$1.5 billion in foreign exchange generation. It plans to make US$1 billion available to authorised commercial banks and up to US$500 million to the Bank of Ghana for reserve accumulation under GANRAP.

GoldBod said the October programme will be implemented under its new Spot FX Sales/Intermediation Framework, which is intended to strengthen transparency, fairness and regulatory compliance in foreign exchange sales and intermediation.

The October programme also marks the exit of the Bank of Ghana from foreign exchange intermediation, with GoldBod assuming full responsibility for the activity.

GoldBod said it would continue working with the Bank of Ghana, commercial banks and other stakeholders to support Ghana’s foreign exchange and reserve management objectives.