Currency in circulation up 19.9% in 2019,312m spent on new currencies

Wed, 10 Jun 2020 Source: Class FM

Total currency in circulation in 2019 jumped by 19.9% in 2019 to GH16.2 billion.

In 2018, the total currency in circulation was estimated at GHS13.3 billion.

Total notes were estimated at GHS16.01 billion, whereas total coins were estimated at GHS246.6 million.

According to the Bank of Ghana’s 2019 Annual Report, the GHS50 note was the largest in circulation, estimated at GHS5.9 billion.

The GHS200 and GHS100 new notes were about GHS276.7 million and GHS149 million respectively in circulation.

For the coins, the 50 pesewas were the largest in circulation, estimated at GHS87 million.

The least was the one pesewa which GHS1.1 million were in circulation.

The Bank, however, spent GHS312 million in 2019 to print new currencies in 2019 as against GHS153 million in 2018.

The regulator thus spent GHS159 more to print the new currencies in 2019.

In the year under review, the Central Bank introduced two new bank notes-the GHC100 and GHC200.

It also spent GHS1.9 million on agency fees and GHC306 million was spent on printing the money.

Source: Class FM
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