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Gh¢1.00, Gh¢2.00 Note To Be Phased Out - Bank Of Ghana Reveals

Bank Of Ghana (BoG) through the governor Dr. Ernest Addison has stated the Gh¢1.00 and Gh¢2.00 notes will soon not be in circulation in the country's economy. 

According to Dr. Addison on Monday 27 September 2021, the two notes which are usually not in good shape will be replaced by their respective coins.

He said, “The GH¢1 note and GH¢2 note would eventually be phased out because they are not cost-effective in terms of the printing cost”.

He further stated that the notes have not been given proper care for that matter they circulate widely and as a result, they are torn.

“They circulate very widely and come back very torn and soiled, and they are very difficult for our currency processing machines to process”, Dr Addison stated.

Ghana currently has GH¢1, GH¢2, GH¢5, GH¢10, GH¢20, GH¢50, GH¢100 and GH¢200 in notes while one pesewa, ten pesewas, 20 pesewas, 50 pesewas, one cedi and two cedis are coins.

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Addison Bank Of Ghana BoG Ernest Ghana

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