The Bank of Ghana, BoG, has served notice it will issue upgraded banknotes into circulation from May 6, 2019.
According to a press statement by the BoG, the upgraded banknotes will have enhanced security features in line with evolving changes in the technological landscape. The upgraded banknotes also come with improved durability and machine readability.
BoG Backs probe into Cedi depreciation
The Bank of Ghana has backed the formation of a bi-partisan committee to probe the continuous depreciation of the Cedi.
According to the Governor of the BoG, Dr Ernest Addison during the announcement of the Policy Rate yesterday said it's necessary to find a solution to the structural problems of the Cedi making it always depreciating.
Finance Minister Ken Ofori Atta addressing Parliament last week said government will form a bi-partisan committee to probe the continuous depreciation of the cedi.
Ken Ofori Atta told MPs that after the continuous depreciation of the currency from December last year to March this year, President Akufo-Addo has directed him to find the structural cause of the cedi depreciation.
“The president has directed that I investigate the structural causes for the depreciation of the cedi and to propose measures to address the situation, the government and I will put a bi-partisan committee together to proceed immediately.”