Responsible Gold Sourcing Policy Framework

During the era of the Gold Standard, currency issued by central banks had to be fully backed by gold, measured in troy ounces. This gold standard measure of assessing the strength of currencies was later abandoned at the turn of the 20th century when economies began printing currencies without the backing of gold. Since this transition, currencies have been backed by a variety of instruments, including gold, government bills and stocks, and first-class bills of exchange. In fact, when Ghana issued its jurisdictional currency in 1958, the original currency cover assets included
gold.