Bank of Ghana has announced its decision to introduce a higher-demonination cedi banknotes and a GHS 2 coin.
The redenomination exercise aimed to eliminate 4 Zeros from the existing
unit of currencies in an attempt to introduce efficiency in the economy and
remove the dead-weight burden on the economy associated with
transactions, the governor of the central bank has said.
According to BoG, “We need banknotes and coins that are convenient for most
people to use, high quality, secure and cost effective”.