The Bank of Ghana (BoG) says the presentation of the updated cedi note is a typical exercise it embraces to battle falsifying of the money.
The redesigned banknotes are booked to be available for use from May 6, 2019.
As per the national bank, both the old and the new notes will be utilized simultaneously until the old ones eliminate.
The last time such a general exercise was led was in 2007 when every one of the notes was redenominated by the then John Kufuor organization. The two cedi and five cedi notes were anyway updated in 2010 and 2016 separately.
Per the new redesign, the cowrie shell on the GH¢10, the star on the GH¢20 and the cocoa case on the GH¢50 will currently have a gleaming line in them which will climb and down when tilted. That highlight is called Optically Variable Magnetic Image.
Another new component is the New Enhanced Security Thread ( RAPID). That will be a glossy broken line with development that goes through the banknote start to finish. It is persistent when seen against the light. At the point when the note is tilted, a star extends and contracts while the division esteem remains still.
Likewise, the notes will have More Prominent Watermark. With this, the picture of Tetteh Quarshie with a cocoa unit would be increasingly perceptible in the plain star territory of the banknote. It ends up unmistakable on the two sides when seen against the light. The division esteem can likewise be found in the watermark territory.
There is additionally the Enhanced Iridescent Band at the Back of the Banknote: That is a brilliant band with gold bars at the back of the banknote that keeps running start to finish. It tends to be seen all the more unmistakably when the note is tilted against the light.
Be that as it may, The Big Six representations, denominational hues, of red for 1 cedi, yellow for 2 cedis, blue for 5 cedis move for 20 cedis and darker for 50 cedis won’t change.
Measurements of the different sections and Other chief and foundation pictures will likewise continue as before.
As per the Bank of Ghana, the activity is a typical daily practice.
“In accordance with best practice, what is done somewhere else, you find that at around seven years there about, nations would change their monetary certificates. For instance on the off chance that all their mechanical frameworks are changing, at that point, it implies that the manner in which they prints notes are even extraordinary thus we can’t remain back. It may finish up being progressively costly for us to remain the manner in which it’s been. With respect to fake, each nation endures that single direction or the other, the degree may contrast from nation to nation,” Esi Hammond, Head of Communications at the Bank of Ghana said in a phone meeting.
The Bank of Ghana has asked the open not to surge in trading their notes.
“There are installment frameworks advancement, we use ATM this day and we have to realize that as notes experience ATM, for instance, can be recognized whether they are bad notes. For instance, you need sequential numbers to be perused and read fittingly or well, great. So we need to be noticed that are predictable with these progressions with time, she included.