The Governor of the Central Bank of Ghana, Dr Ernest Addison has explained the rationale behind government’s policy decision to introduce new Bank notes of Ghv100, Ghc200 and 2Ghc coin.
Addressing a presser covered by MyNewsGH.com, the Governor said “twelve years after the redenomination exercise, sustained periods of high inflation and the perennial depreciation of the currency have eroded, in real terms, the face value of the series of the notes” forced government to take the decision.
He explained that a lot of thinking and consultations took place.
A lot “thinking went into the decision to introduce
the higher denomination banknotes. The structure of the banknote should align well with the needs of the people who use it for their daily transactions. We need banknotes and coins that are convenient for most people to use, high quality, secure and cost effective.” He added.