Gross, net international reserves up to $7.50 billion, $4.92 billion respectively – BoG

The 'strong build-up' in international reserves continued into August 2024, the Bank of Ghana has said. Briefing the media about the decision of the 120th Monetary Policy Committee meeting on Friday, 27 September 2024, Governor Ernest Addison said gross international reserves increased by US$1.58 billion to US$7.50 billion at the end of August 2024. This is equivalent to 3.4 months of import cover. He said net international reserves also increased by US$1.73 billion to US$4.92 billion at the end of August 2024. The higher build-up in Gross International Reserves was largely on account of the strong performance of the domestic gold purchase programme, Dr Addison explained. Source: Ghana Web