The Bank of Ghana has added two new currencies to our current. In a short ceremony at the head office in Accra, the governor, Mr. Addison launched the new cedi notes.
He said that the new notes “will only restore partially the dollar value of the higher denomination GH¢200 to about US$40, not quite close to levels in 2007, but high enough to significantly reduce the deadweight burden and high transaction cost in making high-value purchases in a cash-based economy like Ghana”
He added that there will also be the introduction of GH¢ 2 coin. The new coin is to facilitate business transactions and also ease pressure on the cedi notes. Mr. Addison the Bank of Ghana will be embarking on a nationwide campaign to educate people about the new notes and coins.
He ended by saying that Ghanaians should always try to keep our notes clean. “The need to properly handle our banknotes is still of significant importance and we must strive to keep them clean at all times in line with the Bank’s Clean Note Policy. In other words, ‘KNOW THE CEDI AND KEEP IT CLEAN (KCKC)”.
What do you think about the introduction of these new notes and coin? Leave your comments below.