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BoG Not Issuing New Banknotes
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Dr Abdul Nasir Issahaku
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The Bank of Ghana (BoG) says its attention has been drawn to stories circulating on social media that it was issuing banknotes in GH¢30, GH¢100 and GH¢200 denominations.

A press release issued recently by the bank said “it wishes to categorically state that the stories are false and should be disregarded. It will be recalled that the same stories were circulated on social media in 2015.”

The Central Bank added that the said address by the Second Deputy Governor to an investor community never mentioned such issue and should therefore be disregarded.

“All that was contained in the address was the following: “ …Finally, and on a lighter note, you will recall nearly a decade ago, when the Bank of Ghana celebrated its Golden Jubilee with currency exhibitions and road shows across the country. Once again, on the 4th of March 2017, we shall be celebrating the 60th Anniversary of Central Bank in Ghana.

“As part of the celebrations, a new commemorative banknote in five-cedi (GH¢5) denominations will be unveiled. This banknote will be legal tender as well as a collector’s item. The note will have new durable security features which can be easily identified by the public, as well as introduce other internationally acceptable security features which are sensitive to touch to aid the blind and visually challenged in identifying the banknotes.”

It revealed that the climax of this celebration will take place in August 2017 which will mark exactly 60 years when Bank of Ghana opened its doors to the public.

The programme for the celebrations will be announced in due course.

The bank assured the public that denominations of the Ghana Cedi in circulation remain the GH¢50, GH¢20, GH¢10, GH¢5 and GH¢2 notes and also GH¢1, 50Gp, 20Gp, 10Gp, 5Gp, 1Gp coins.

Dollar injection

The Bank of Ghana (BoG) said its planned injection of dollars into the market was part of a broader strategy to help stabilize the cedi.

The bank recently announced its decision to sell some $120 million for the first quarter of this year but this has been criticized.

Ishmael Yamson, a business tycoon, disclosed that such strategy of releasing more dollars onto the market to ensure the cedi’s stability was not sustainable and should be stopped.

However, Dr. Abdul Nashiru, Governor of BoG, said the exercise, together with other measures, could help stabilize the cedi.
Source: Daily Guide

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