Ghana’s international reserves fell to US$11.4 billion at the end of August 2026, equivalent to approximately 4.2 months of import cover, according to the latest data from the Bank of Ghana (BoG).
The decline represents a reduction of about US$1.9 billion from the approximately US$12.94 billion in international reserves recorded at the end of June 2026.
Bank of Ghana Reports Decline in Foreign Exchange Reserves
The latest reserves figures were disclosed by Bank of Ghana Governor Dr. Johnson Asiama when he opened the 132nd meeting of the Bank’s Monetary Policy Committee on September 23, 2026.
The level of Ghana’s foreign exchange reserves remains an important indicator of the country’s ability to meet external payment obligations and finance imports while supporting stability in the foreign exchange market.
Ghana Current Account Faces Deficit Pressure
Dr. Asiama also indicated that Ghana’s current account is projected to record a deficit in the third quarter of 2026.
According to the Governor, the expected deficit is linked partly to a slowdown in gold shipments and an increase in payments for services.
Gold exports remain an important source of foreign exchange for Ghana, making developments in gold shipments significant for the country’s external sector and international reserves.
Latest Data Shows Reserves Rebound
Despite the decline recorded at the end of August, fresh data contained in the Bank of Ghana’s Summary of Economic and Financial Data indicate that Ghana’s international reserves had increased to approximately US$12.04 billion as of September 22, 2026.
The latest figure suggests that the country’s foreign exchange reserves recovered from the US$11.4 billion recorded at the end of August.
However, movements in international reserves continue to be closely monitored by investors, businesses and economic analysts because they influence exchange rate stability, import financing and Ghana’s external position.
Outlook for Ghana’s International Reserves
Ghana’s international reserves remain a key component of the country’s macroeconomic stability.
Future movements will depend on factors including gold export earnings, foreign exchange inflows, service payments, imports, capital flows and developments in the current account.
The Bank of Ghana is expected to continue monitoring these developments as it assesses Ghana’s monetary policy, exchange rate stability and broader economic outlook.
Source: newsthemegh.com