He mentioned the choice was wanted to enhance the financial institution’s price of foreign money administration.
Dr Addison informed journalists on Monday that the central financial institution had realised that it was not cost-effective to maintain the 2 units of notes in circulation, as they largely returned soiled and worn out, requiring frequent replacements.
According to this, the BoG has marketed a brand new Ghc2 coin, detailing its options to the general public in a video on social media.
The Ghana cedi has denominations of Ghc1, Ghc2, Ghc5, Ghc10, Ghc20, Ghc50, Ghc100 and Ghc200.
For cash we have now the pesewa which is available in 10 pesewas, 20 pesewas, 50 pesewas, one cedi and two cedis cash.
After Independence, the brand new financial authority, the Financial institution of Ghana, issued its personal foreign money within the type of Ghana kilos, shillings and pence on 14th July, 1958. With that subject, the Financial institution of Ghana formally took over the problem of foreign money notes and cash from the WACB.
The second subject of foreign money was in early 1965, when Ghana determined to depart the British colonial financial system and undertake the broadly accepted decimal system.
Accordingly, Cedi notes and Pesewa cash have been launched on the nineteenth July, 1965 to interchange the Ghana kilos, shillings and pence.
