BoG begins issuing upgraded Ghana cedi notes May 6

BoG begins issuing upgraded Ghana cedi notes May 6

The Bank of Ghana (BoG) has announced that from May 6, 2019, it will begin issuing upgraded banknotes into circulation. This banknotes, according t

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The Bank of Ghana (BoG) has announced that from May 6, 2019, it will begin issuing upgraded banknotes into circulation.

This banknotes, according to the Central Bank will have enhanced security features in line with evolving changes in the technological landscape which also come with improved durability and machine readability.

Though the upgraded notes will come with some new features, the BoG in a circular stated that the principal design elements including “The Big Six portrait, Denominational colours and Dimensions of the various denominations” remain unchanged.

“The upgraded and the existing series of banknotes will co-circulate. The Bank, therefore, entreats the public to KNOW THE CEDI AND KEEP IT CLEAN,” the Central Bank added.

Below are details of the statement:

BANK OF GHANA INTRODUCES UPGRADED BANKNOTES

The Bank of Ghana will issue upgraded banknotes into circulation on May 6, 2019.

The upgraded banknotes will have enhanced security features in line with evolving changes in the technological landscape. The upgraded banknotes also come with improved durability and machine readability.

The enhanced security features are:

Optically Variable Magnetic Image (SPARK LIVE): It is a shiny colour-changing image of the cowrie shell on the GHC10, star on the GHC20 and cocoa pod on the GHC50. 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. The following principal design elements remain unchanged in the upgraded banknotes:

The Big Six portrait

Denominational colours

Dimensions of the various denominations

Other principal and background images The upgraded and the existing series of banknotes will co-circulate.

The Bank therefore entreats the public to KNOW THE CEDI AND KEEP IT CLEAN.

By: Kekeli Kuatsenu/awakenewsonline.com