The Bank of Ghana (BoG) has announced plans to commence foreign exchange (FX) intermediation under its Domestic Gold Purchase Programme starting October, 2025.

The central bank intends to sell up to US$1.15 billion in FX for the month as part of efforts to strengthen market transparency and enhance price discovery.

According to the BoG, the sales will be conducted on a spot basis through twice-weekly, price-competitive auctions open to all licensed banks.

The BoG emphasized that there will be no earmarking or special conditions attached to allocations, ensuring a level playing field and transparent access for all market participants.

“The overarching objective remains clear to deepen the interbank FX market, enhance price discovery, and smooth volatility,” the Bank stated.

It added that monthly auction volumes may be adjusted based on evolving market conditions, but reaffirmed its commitment to full transparency. The BoG pledged to continue disclosing all FX market operations and outcomes in line with best international practices.

The move forms part of broader efforts by the central bank to strengthen Ghana’s FX management framework and promote stability within the financial system.