BANK OF GHANA

PRESS RELEASE

INTRODUCTION OF A GH¢2 BANKNOTE DENOMINATION

The Bank of Ghana has decided to introduce a GH¢2 (Two Ghana Cedi) denomination in response to the need for an intermediary banknote between the GH¢1 and GH¢5 banknotes.

This follows a review of the cash cycle conducted by the Bank in 2009, which indicated that there was a lot of pressure on the GH¢1, resulting in the notes circulating too fast and being over-used. The worn-out state of the GH¢1 defeats the Bank’s Clean Note Policy, which seeks to ensure that only good quality banknotes remain in circulation.

The introduction of the new denomination will expand the series of banknotes in circulation, enhance exchangeability and facilitate transactions.

The general public will be informed and educated on the theme, colour, size, security and other features of the new denomination when the design is finalized.

25th February 2010