Home / General News / Bank of Ghana to introduce GH¢2 bank note

Bank of Ghana to introduce GH¢2 bank note

Share this with more people!

The Bank of Ghana will introduce new GH¢2 banknotes to serve as an intermediary banknote between the GH¢1 and the GH¢5 banknotes.

The bank however, has not indicated a time frame for the exercise.

In a press release copied to ghanabusinessnews.com Thursday February 25, 2010 the central bank says after reviewing the cash cycle in 2009, the bank found out that there was a lot of pressure on the GH¢1 banknote. This the central bank says has resulted in the lowest denomination of the Ghanaian currency circulating too fast and being over-used. The worn-out state of the GH¢1 the bank says defeats its Clean Note Policy, which seeks to ensure that only good quality banknotes remain in circulation.

When introduced, the bank believes, the new denomination will expand the series of banknotes in circulation, enhance exchangeability and facilitate transactions.

According to the statement, the general public will be informed and educated on the theme, colour, size, security and other features of the new denomination when the design is finalized.

Currently, there are five currency denominations in circulation in the country: these are the GH¢1, GH¢5, GH¢10, GH¢20 and the GH¢50 banknotes.

By Emmanuel K. Dogbevi

Share this with more people!

Check Also

Africa urged to create awareness, early warning systems in response to climate crisis

Ghana and her African peers urgently need to bridge the knowledge gap and establish an …

No comments

  1. Nice one there Emmanuel. You should carve a tagline for GBN. First of all, you break it, you are presice, to the point and above all with the nation at heart.
    Kudos man