The new 5 cedi note which was outdoored by the Bank of Ghana on Friday (March 3, 2017) will be circulated from today (Tuesday).
The note which was released to mark the bank’s 60th anniversary has already been distributed across the country.
The new 5 cedi note comes with a new pulsating shine when tilted.
A member of the Currency Department of the Bank of Ghana, Mr. Dominic Owusu stressed that the new currency will be used alongside the old currency.
“Ghana has come far and this is a commemorative five cedi note that we have but as we all know it is going to be used alongside the current five cedi note. That is very very important.”
Meanwhile some currency analysts have debunked rumors that the new currency will create issues when run through a counting machine due to its relatively smaller size.
Joseph Nketsiah, a General Manager of Treasury of HFC Bank tells Citi Business News the new currency will pose no concerns to counting machines.
“It will not be a problem at all; the counting machines are not made for specific currencies. They are designed to take different sizes of currencies. The only thing is that as you feed it it starts picking out the features and the security features include the size of the currency so as long as it picks it, anything that comes and it defects from the security features that is where it will reject,” he added.
This is going to be the first time a new denomination will be issued under the tenure of the Governor, Dr. Abdul-Nashiru Issahaku. The note bears the signature of Dr. Issahaku.