The \u00a21 and \u00a22 notes will be phased out of circulation soon, as the Bank of Ghana gradually plans to remove them from circulation.<\/p>\n
According to the Central Bank, the poor handling of the notes, that is torn and soiled, make it expensive to print them.<\/p>\n
Governor of the Bank of Ghana, Dr. Ernest Addison, addressing the press said the Central Bank will not print any more of the \u00a21 and \u00a22 notes when those in circulation are phased out.<\/p>\n
According to him, the two denominations will be replaced by the \u00a21 and \u00a22 coins respectively.<\/p>\n
\u201cThe view for the longer term is to more or less get the \u00a21 and \u00a22 notes and use the \u00a21 and \u00a22 notes coins.\u201d<\/p>\n
\u201cBoth the \u00a21 and \u00a22 notes would eventually be phased out because they are not cost-effective in terms of the printing cost\u201d, he pointed out.<\/p>\n
\u201cThese are notes that circulate very widely, and they come back very torn and soiled and they are very difficult for our currency processing machines to process. We have bales and bales of \u00a21 notes that we are not able to process\u201d, Dr. Addison stressed.<\/p>\n
\u201cYou will recall that this is a note [\u00a22] that was issued as a commemorative note; commemorative notes are not notes that you continue to print\u201d, he continued.<\/p>\n
\u201cWhat we have done in the last two years is to introduce the \u00a22 coin. You would expect that, eventually, it would more or less play the role that the \u00a22 note is playing.\u201d<\/p>\n
<\/p>\n
<\/p>\n
Source: Joy Business<\/p>\n","protected":false},"excerpt":{"rendered":"
The \u00a21 and \u00a22 notes will be phased out of<\/p>\n","protected":false},"author":3,"featured_media":87900,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-87899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"aioseo_notices":[],"featured_image_urls":{"full":["https:\/\/extranewsgh.com\/wp-content\/uploads\/2021\/09\/il_fullxfull.2125902868_riue.jpg",827,803,false],"thumbnail":["https:\/\/extranewsgh.com\/wp-content\/uploads\/2021\/09\/il_fullxfull.2125902868_riue-150x150.jpg",150,150,true],"medium":["https:\/\/extranewsgh.com\/wp-content\/uploads\/2021\/09\/il_fullxfull.2125902868_riue-300x291.jpg",300,291,true],"medium_large":["https:\/\/extranewsgh.com\/wp-content\/uploads\/2021\/09\/il_fullxfull.2125902868_riue-768x746.jpg",640,622,true],"large":["https:\/\/extranewsgh.com\/wp-content\/uploads\/2021\/09\/il_fullxfull.2125902868_riue.jpg",640,621,false],"1536x1536":["https:\/\/extranewsgh.com\/wp-content\/uploads\/2021\/09\/il_fullxfull.2125902868_riue.jpg",827,803,false],"2048x2048":["https:\/\/extranewsgh.com\/wp-content\/uploads\/2021\/09\/il_fullxfull.2125902868_riue.jpg",827,803,false],"chromenews-featured":["https:\/\/extranewsgh.com\/wp-content\/uploads\/2021\/09\/il_fullxfull.2125902868_riue.jpg",827,803,false],"chromenews-large":["https:\/\/extranewsgh.com\/wp-content\/uploads\/2021\/09\/il_fullxfull.2125902868_riue.jpg",592,575,false],"chromenews-medium":["https:\/\/extranewsgh.com\/wp-content\/uploads\/2021\/09\/il_fullxfull.2125902868_riue.jpg",422,410,false]},"author_info":{"display_name":"","author_link":"https:\/\/extranewsgh.com\/author\/"},"category_info":"General<\/a>","tag_info":"General","comment_count":"0","_links":{"self":[{"href":"https:\/\/extranewsgh.com\/wp-json\/wp\/v2\/posts\/87899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/extranewsgh.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/extranewsgh.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/extranewsgh.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/extranewsgh.com\/wp-json\/wp\/v2\/comments?post=87899"}],"version-history":[{"count":1,"href":"https:\/\/extranewsgh.com\/wp-json\/wp\/v2\/posts\/87899\/revisions"}],"predecessor-version":[{"id":87901,"href":"https:\/\/extranewsgh.com\/wp-json\/wp\/v2\/posts\/87899\/revisions\/87901"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/extranewsgh.com\/wp-json\/wp\/v2\/media\/87900"}],"wp:attachment":[{"href":"https:\/\/extranewsgh.com\/wp-json\/wp\/v2\/media?parent=87899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/extranewsgh.com\/wp-json\/wp\/v2\/categories?post=87899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/extranewsgh.com\/wp-json\/wp\/v2\/tags?post=87899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}