BOG To Introduce new Notes

The Bank of Ghana has decided to introduce a GH¢2 denomination in response to the need for an intermediary banknote between the GH¢1 and GH¢5 banknotes.

A statement issued yesterday by the Bank said, this followed a review of the cash cycle conducted by the Bank in 2009, which indicated that there is a lot of pressure on the GH¢1, resulting in the notes circulating too fast and being over-used.

"The worn-out state of the GH¢1 defeats the Bank's Clean Note Policy, which seeks to ensure that only good quality banknotes remain in circulation," the statement said.

"The introduction of the new denomination will expand the series of banknotes in circulation, enhance exchangeability and facilitate transactions," the Central Bank added.

It said 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 finalised.

Source: GNA