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GHC 1 AND GHC 2 notes to be phased out by Bank of Ghana

The Bank Of Ghana Governor, Dr. Ernest Addison, at the Monetary Policy Committee (MPC) briefing on Monday 27 September 2021. Following its 102nd regular meeting, last week has announced that it would soon stop producing and circulating the 1 GHC and 2 Ghc notes to tackle the defacement of the currency denominations.

According to the Bank of Ghana governor, the earmarked cedi denominations are widely used than any other currency thus making it comes back torn and soiled and are very difficult for the central bank currency processing machines to process.

“ We have bales and bales of 1 Ghc notes that we are not able to process. So the view for the longer term is to make more or less get out of the 1 Ghc and 2 Ghc notes and use the 1 Ghc and 2 Ghc coins.” Dr. Addison said.

Do you think people will be happy using coins instead of notes? Let us hear your views on this.

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Bank of Ghana Ernest Addison GHC MPC Monetary Policy Committee

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