Ghana’s foreign-exchange reserves have climbed to about US$11 billion, a recovery credited largely to booming exports of gold and cocoa under new reforms.
The recent surge follows the establishment of a state-run gold-trading body, GoldBod, in March 2025, which has helped ensure foreign-currency earnings from gold exports flow directly into the national reserves rather than bypassing the banking system.
According to official data, Ghana’s small-scale gold exports alone reached record levels in 2025, boosting foreign-exchange inflows.
The increase is seen as strengthening Ghana’s external buffer and improving import cover, helping stabilise the cedi and support macroeconomic resilience amid global uncertainty.
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