Pressure on the GH¢50 forced introduction of GH¢100 and GH¢200 notes – Dr. Addison

The Bank of Ghana has announced new cedi notes which it believes will help shore up the value of the currency.
”Ghana will now issue GH¢100 and GH¢200 and GH¢2 coins”, Governor of the Central Bank, Dr. Ernest Addison said at a press conference in Accra on Friday.

It was further revealed that the new denominations will pose unique features comparable to the pounds and other international currencies making it easily distinguishable from counterfeits.

According to the Bank of Ghana (BoG), a survey conducted revealed that most Ghanaians prefer to use the GH¢50 note for a transaction and have introduced the GH¢100 and GH¢200 for smooth business transactions.

At the press conference held today by the BoG, it was also said that issuing notes will help cut down the cost of re-printing new bills on a regular as they have a long-lasting feature.

The new GH¢100 and GH¢200 and GH¢2 coins will be out for circulation next week. But circulation will be on request from banks and how early they request for them.

By: Joel Sanco