Bank of Ghana to begin circulation of upgraded cedi notes today

Bank of Ghana to begin circulation of upgraded cedi notes today

- The BoG has revealed it would circulate the upgraded cedi notes

- The upgrade affected the three higher domination of the cedis

- The new notes would be used until the old one phases out

The Bank of Ghana (BoG) would today, May 6, 2019, begin the circulation of its enhanced GHc10, GHc20 and GHc50 notes.

According to the Bank of Ghana, both the old and the new notes would be used concurrently until the old ones are phased out.

New features on the new notes include a gold stripe, a watermark, a security thread and a colour changing spark live.Per the new upgrade, the cowrie shell on the GH₵10, the star on the GH₵20 and the cocoa pod on the GH₵50 will now have a shiny line in them which will move up and down when tilted.

READ ALSO: Man gets car gift from government after returning GHc760,000 mistakenly paid to him

That feature is called Optically Variable Magnetic Image. Another new feature is the shiny broken line with movement that runs through the banknote from top to bottom known as the New Enhanced Security Thread, which is continuous when viewed against light. When the note is tilted, a star expands and contracts while the denomination value stays still.

The notes will have more prominent watermark.With this, the image of Tetteh Quarshie with a cocoa pod would be more noticeable in the plain star area of the banknote. It becomes visible on both sides when viewed against light.The denomination value can also be seen in the watermark area.

There is also the Enhanced Iridescent Band at the back of the banknote: That is a golden band with gold bars at the back of the banknote that runs from top to bottom. It can be seen more clearly when the note is tilted against light.

READ ALSO: University of Ghana student butchered on campus

However, the Big Six portraits, denominational colours, of red for GHc1, yellow for GHc2, blue for GHc5, mauve for GHc20 and brown for GHc50 cedis will not change.

Dimensions of the various denominations and other principal and background images would also remain the same.

Head of Corporate Affairs at the Bank of Ghana, Esi Hammond earlier explained to Citi Business News, that the exercise is in line with best practice.

“What is done elsewhere, you find that at about seven years there about, countries would change their bank notes. For example if all their technological systems are changing then it means that the way they print notes are even different and so we cannot stay back. It might end up being more expensive for us to stay the way it’s been. As for counterfeit, every country suffers that one way or the other, the extent might differ from country to country.”

READ ALSO: NDC accuses media for being quiet about wrong doings at EC

Star Gist: Exclusive Chat with Renowned Comedian Ranzy | #Yencomgh

Subscribe to watch new videos

Want to be featured on YEN.com.gh? Send us a message on our Facebook page with your stories, photos or videos.

Source: Yen Newspaper

Related news
Fans can't keep calm after video of young boy rapping like Medikal goes viral

Fans can't keep calm after video of young boy rapping like Medikal goes viral

Fans can't keep calm after video of young boy rapping like Medikal goes viral
YEN.com.gh
Mailfire view pixel