Business News Thu, 11 Apr 2019

See the upgraded cedi notes Dr Addison signed on March 4, 2019

The new 20cedis

The Bank of Ghana has released a clearer version of the upgraded cedi notes due to start circulation on May 6.

The notes were signed by the Governor of the Bank of Ghana, Dr Ernest Addison, on March 4 and now due to be released into the market next month.

The exercise is meant to strengthen the currency against faking, the central bank said in an April 8, 2019 press statement.

What’s new?

It said the three denominations will have optically variable magnetic image (spark live), enhanced security thread (Rapid), more prominent watermark, and enhanced iridescent band at the back of the notes.

Optically Variable Magnetic Image (SPARK LIVE): It is a shiny colour-changing image of the cowrie shell on the GH¢10, star on the GH¢20 and cocoa pod on the GH¢50. When the note is tilted, a shiny line across the cowrie shell, star, and cocoa pod moves up and down. The colour of the feature also changes from gold to green when tilted.

New Enhanced Security Thread (RAPID): It is a shiny broken line with movement that runs through the banknote from top to bottom. It is continuous when viewed against light. When the note is tilted, a star expands and contracts while the denomination value stays still.

More Prominent Watermark: It is the image of Tetteh Quarshie with a cocoa pod which has been made 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.

Enhanced Iridescent Band at the Back of the Banknote: It 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.

Meanwhile, BoG has urged Ghanaians to “know the cedi” and ensure it is handled properly by keeping it clean.

Source: Graphic.com.gh
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