The Bank of Ghana has announced new cedi notes which it believes will help shore up the value of the currency.
Ghana will now issue GH¢100 and GH¢200 and GH¢2 coins, Governor of the Central Bank, Dr. Ernest Addison said at a press conference in Accra on Friday.
This means the current highest note in the country GHC50 will cease to enjoy that relevance.
The governor at a press conference today said, “At the time of the redenomination, the GH¢1 was equivalent to US$1, the highest denomination then was the GH¢50 which was equivalent to the US$50. Twelve years after the redenomination exercise, sustained periods of high inflation and the perennial depreciation of the currency has eroded in real terms the face value of the series of notes.”
It is, however, unclear when the new notes will be let in circulation.
Check out the new currency below