{"id":755246,"date":"2019-11-30T00:31:44","date_gmt":"2019-11-30T00:31:44","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/11\/30\/bog-introduces-new-cedi-notes\/"},"modified":"2019-11-30T00:31:44","modified_gmt":"2019-11-30T00:31:44","slug":"bog-introduces-new-cedi-notes","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/11\/30\/bog-introduces-new-cedi-notes\/","title":{"rendered":"BoG introduces new Cedi notes"},"content":{"rendered":"

<\/p>\n

\n
\n
\"Bank
Bank of Ghana releases GH\u20b5 2 coin, 100, 200 Cedi notes<\/figcaption><\/figure>\n<\/div>\n

The Bank of Ghana (BoG) says it is not shifting away from pursuing a cashless society policy with the introduction of new banknotes.<\/p>\n

READ THIS: Official: Why we have introduced new banknotes, coin \u2013 BoG<\/strong><\/p>\n

Speaking to the media during the launch, the Governor of the Bank of Ghana, Dr Ernest Addison said the introduction of these high-value notes is not a shift from the Central Bank\u2019s policy of pursuing a cashless society and promoting the use of electronic modes of payments.<\/p>\n

SEE THIS: How Ghanaians are reacting to BoG\u2019s new GH\u20b5 2 coin, 100, 200 Cedi notes<\/strong><\/p>\n

\u201cWhile vigorously
\npursuing financial inclusion by accelerating the migration to e-payment
\nplatforms, we are also mindful of the relevance of cash in our day-to-day
\ndealings. Undeniably, cash still remains the preferred medium of payment by the
\nlarge informal sector in the country. This is why we continue to pay attention
\nto enhancements in the structure, security features and management of cash
\nwithin the economy. This will stay with us for some time,\u201d he added.<\/p>\n

The Bank of Ghana on Friday introduced the GH\u00a22 coin, GH\u00a2100 and GH\u00a2200 notes as part of Ghana\u2019s currency denomination.<\/p>\n

READ THIS: GFA to meet Kofi Amoah over $100,000 Glo money<\/strong><\/p>\n

\u201cIn the coming days,
\nthe Bank of Ghana will embark on a nationwide campaign to educate the general
\npublic on the new denominations. I entreat every Ghanaian to study these new
\ndenominations carefully and be familiar with the main features to facilitate
\nthe detection of fake currency notes.\u201d Dr Addison said.<\/p>\n

According to the Governor, in March 2017, the Bank of Ghana begun a process of conducting a thorough review of the structure of the currency including on the note\/coin boundary and acceptability and use of the individual currency series.<\/p>\n

SEE ALSO: Lordina Mahama\u2019s touching birthday message to husband<\/strong><\/p>\n

Dr
\nAddison said the review exercise involved conducting a nationwide survey with
\nmarket operatives, businesses and international stakeholders as well as some
\nempirical exercise.<\/p>\n

\u201cThe outcome of these exercises revealed the resurgence of deadweight burden issues on the economy due to past significant inflation and perennial depreciation of the currency, significant increase in the demand for higher denomination banknote and increased cost of printing,\u201d
he said. \u00a0
\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bank of Ghana releases GH\u20b5 2 coin, 100, 200 Cedi notes The Bank of Ghana (BoG) says it is not shifting away from pursuing a cashless society policy with the introduction of new banknotes. READ THIS: Official: Why we have introduced new banknotes, coin \u2013 BoG Speaking to the media during the launch, the Governor […]<\/p>\n","protected":false},"author":1,"featured_media":754799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-755246","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nBoG introduces new Cedi notes - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/11\/30\/bog-introduces-new-cedi-notes\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BoG introduces new Cedi notes - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Bank of Ghana releases GH\u20b5 2 coin, 100, 200 Cedi notes The Bank of Ghana (BoG) says it is not shifting away from pursuing a cashless society policy with the introduction of new banknotes. 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