GoldBod injects $130 million to support Ghana’s cedi
By the AFREEQUE newsroom, based on MyJoyOnline
GoldBod sold $130 million on Ghana’s foreign exchange market to support the cedi, which was trading at 12.15 cedis to the dollar at foreign exchange bureaux. The October programme provides for up to $1.5 billion more to strengthen reserves and stabilise the currency, according to MyJoyOnline.
GoldBod, the Ghanaian body responsible for buying and selling gold, injected $130 million into the foreign exchange market over the past three weeks at a rate of 11.60 cedis to the dollar, MyJoyOnline reports. The cedi subsequently recovered some of its losses against the major currencies.
Over two weeks, the Ghanaian currency gained 1.20% against the dollar and the pound sterling, reaching 11.65 cedis to the dollar and 15.57 cedis to the pound, and 0.16% against the euro, at 13.04 cedis. On the retail market, it was trading at 12.10 cedis to the dollar and gained 0.32% against the pound and 1.11% against the euro.
As part of its October 2026 programme, GoldBod plans to provide $1 billion to commercial banks and an additional $500 million to the Bank of Ghana to strengthen its reserves. This planned $1.5 billion injection is part of an intervention programme intended to support the cedi’s recovery and stability, according to MyJoyOnline. The currency began the week at 12.15 cedis to the dollar on the retail market and is down by about 9% since the start of the year.
