The Bank of Ghana has explained that the GH¢2 and GH¢5 notes are not part of the upgraded currencies which are currently circulation.
According to the BoG, the two denomination were left out because they are “standalone commemorative banknotes”.
The Bank of Ghana, in a statement, said “In line with international best practice, commemorative banknotes are not subject to upgrades,”
In keeping with its commitment to improving the standard of Ghana’s currency, the Bank of Ghana (BoG) on Monday, May 6 began the circulation of the newly upgraded cedi notes.
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However, there was a slow start to the circulation exercise as many of the banks in Accra and some of the regional capitals did not receive the upgraded notes for circulation, while a number of customers also indicated that they were unaware of the decision to circulate the cedi notes.
The affected denominations are the one, five, 10, 20 and 50 cedi banknotes which have been given some specific public security features to match the evolving technological landscape.
The move by the central bank to upgrade the banknotes is aimed at improving the security, durability and machine readability of the notes, and also reduce the many cases of counterfeits in the system.
