The Ghana Gold Board (GoldBod) sold US$1.011 billion in foreign exchange to authorised commercial banks in October 2026 from its artisanal and small-scale mining (ASM) gold trading operations, as it targets US$1.2 billion in foreign exchange generation for November.
In an announcement issued on Monday, November 2, 2026, the Board said the proceeds from its October gold trade operations were sold through its GoldBod GoFX platform in line with its approved Foreign Exchange Sales and Intermediation Framework.
GoldBod is targeting a further US$1.2 billion in foreign exchange from its ASM gold trading operations in November, representing an increase of approximately 18.7 per cent over the amount generated in October.
Of the projected amount, US$800 million is expected to be made available to commercial banks to improve dollar availability and support stability in the foreign exchange market.
The Board said the November sales would also be conducted through the GoFX platform to promote transparency, fairness and compliance with regulatory requirements.
The October performance comes against the backdrop of an earlier US$1.5 billion foreign exchange generation target announced by GoldBod for the month in September.
Under the earlier projection, US$1 billion was expected to be made available to commercial banks, while up to US$500 million was earmarked for the Bank of Ghana (BoG) to support the accumulation of international reserves.
The latest figures indicate that the entire US$1.011 billion generated in October was sold to authorised commercial banks, rather than being shared between the banks and the central bank as outlined in the earlier projection.
GoldBod said its operations would continue to generate foreign exchange for the country and support the BoG's international reserve accumulation efforts under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
The Board's foreign exchange generation activities are backed by Section 2(b) of the Ghana Gold Board Act, 2025 (Act 1140), which provides the statutory basis for its role in generating foreign exchange through the country's gold trade.
Attention now turns to the Board's November target of US$1.2 billion, including its plan to make US$800 million available to commercial banks.
The extent to which the planned sales will improve dollar availability and support stability in the foreign exchange market will depend on the timing and distribution of the proceeds among participating banks.
