Cost of printing upgraded cedi notes not yet known – BoG

On Monday, the Central Bank announced that it will issue upgraded and security-enhanced banknotes into circulation on May 6, 2019.

In a statement, the BoG said the enhanced security features will be in line with evolving changes in the technological landscape.

The upgraded banknotes will also come with improved durability and machine readability.

The new security enhanced cedi notes will be printed in GHC10, GHC20 and GHC50 notes.

Speaking in an interview with Joy News, the BoG’s Head of Communications, Esi Hammond, said the cost of the exercise is not yet known.

She, however, assured that the upgraded banknotes will have improved durability, machine readability and also meet international standards.

“…I wouldn’t know that, what I’m concerned about at the moment is to bring to you the fact that we are going to bring to you something more durable that meets best practices at the moment,” she said.

“I don’t know how much it’s going to cost but in line with what we do we have to make sure we are giving you good notes in line with our good or clean note policy.”

Meanwhile, the Central Bank has stated that some principal design elements will remain unchanged in the upgraded banknotes.

These include the Big Six portrait, denominational colours, dimensions of the various denominations and other principal and background images.